Australia slips into recession: Hagop’s commentary

The Australian economy is in recession according to official figures released today by the Australian Bureau of Statistics (ABS) covering the March 2009 quarter.

The economy contracted by 0.1 per cent in trend terms during the March 2009 quarter. The annual growth rate as a consequence fell to a modest 0.3 per cent.

At an industry level the printing industry contracted by 3.4 per cent in trend terms during the March quarter and by 10.8 per cent when compared to the same period a year earlier.

The printing industry has now experienced four consecutive quarters of decline.

According to Printing Industries national manager for policy and government affairs, Hagop Tchamkertenian, the printing industry was now progressing though difficult economic conditions that necessitates careful consideration and planning.

"While difficult times call for difficult decisions it is also important that printing businesses start planning and focusing on the post recessionary period," he said.

"Dramatic cuts to staffing or operation levels need to be avoided as much as possible to avoid businesses becoming vulnerable when the economic recovery commences.

"This is why we have partnered with Enterprise Connect to organise a national round of free industry workshops during June.

"The workshops which are titled Managing Your Firm Through the Global Financial Crisis are industry specific and will assist participants to better manage the current economic downturn and emerge from it in much stronger position."

Hagop said that printing businesses have a unique opportunity to participate in the economic recovery instead of becoming a victim of the economic downturn.

"I urge printing business operators and their senior staff members to attend the upcoming workshops and discover what they need to do not only to survive but ultimately to also prosper in the current economic environment,” he said.
"Sometimes it pays dividends to work on your business rather than in your business. The forthcoming workshops offer such an opportunity.”

To register for the Managing Your Firm Through The Global Financial Crisis workshops please click here.