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AAP
AAP
Business
Colin Brinsden, AAP Economics and Business Correspondent

EXPLAINED: Omicron takes toll on business activity | Rare Historical Photos

Prime Minister Scott Morrison has spruiked the "Australian way" his government handled the pandemic at an international forum on the same day figures revealed business activity in December was much weaker than hoped.

The weaker than expected activity was driven by staff shortages, supply chain disruptions and weakened consumer confidence from the COVID-19 Omicron variant, with credit reporting agency CreditorWatch expecting trade activity to slide throughout the first half of 2022.

In an address to the Davos World Economic Forum on Friday night, the prime minister spoke on the acceleration of the digital economy, the demand for skilled workers and closer collaboration between business and researchers.

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