Auckland business optimism dips

Last updated 15:28 21/05/2012

Relevant offers


British American Tobacco offers to buy Reynolds in US$47 billion deal Ikea NZ Facebook page set up: Is it finally coming to NZ? Auckland Council and contractors ordered to pay $120,000 to the family of killed rubbish truck worker 71yo asked to stand on hot water cylinder to plug in phone after bizarre UFB install Tuanz welcomes Vodafone offer to keep internet users connected The video that exposed Samsung's problems in China Sky box that Spark boss Simon Moutter returned to Sky wasn't his only one Harnessing the power of Pokémon Go Mystery hotel brand to take over Old T&G building New Zealand's net migration back at record breaking levels at almost 70,000

Confidence in the business outlook has almost halved since February among Auckland companies surveyed by the Auckland Chamber of Commerce.

The latest Quarterly Business Confidence Survey of almost 900 companies shows only a net 12 per cent of respondents think the general business situation in New Zealand will improve in the near future, down from 22 per cent in February.

However when it comes to their own business outlook, almost half of respondents see a rosier future, only slightly down from the February survey.

Auckland Chamber of Commerce chief executive Michael Barnett said the results show there is a sense of caution among businesses due to global economic issues and shrinking margins locally.

''Business is finding the market conditions continue to be challenging and they now need to look at other areas to make cost savings'' Barnett said.

The survey also found 22 per cent of those surveyed were finding it hard to employ skilled staff and most businesses said their capital investment in buildings and machinery was likely to remain unchanged in the next year.

On the positive side, only 17 per cent of respondents expect interest rates to rise in the next year, compared to 30 per cent in February.

Ad Feedback


Special offers

Featured Promotions

Sponsored Content