The Australian dollar dropped below US70¢ today, the lowest it has been since 2009, after the Australian Bureau of Statistics posted a slowing 0.2 per cent growth in GDP for the last quarter.
In a media release posted on Sept 1, the ABS states this lack of growth is due to reduced mining and construction activity and a decline in exports. The Reserve Bank of Australia has left the interest rate unchanged at a super low 2.0 per cent in order to promote growth in an increasingly slowing Australian economy. As China slows, the US grows.
What does this mean for us?
Advanced Enviro-Septic system components are manufactured and distributed from the United States. With the current state of the Australian dollar and predictions that it will remain around the US70¢ mark over the coming months, our cost of goods has risen markedly.
Since our last price movement over two years ago, the Australian dollar has dropped over 30 per cent. As a result we have reached the point where we must consider a price adjustment in the coming month.
If you have any jobs on your books that you have not yet forwarded to us for a quote, it is extremely important that you contact us as soon as possible to lock in the current price.
We would prefer to provide multiple quotes (even if your jobs are expected to be delayed) so you do not get caught with a price increase next month. All quotes will be valid for 30 days.
Advanced Enviro-Septic is dedicated to providing the most economically viable, environmentally sustainable onsite wastewater management solution for Australian families.