Business Time: Economic confidence down

Here's what's happening in the Manawatu business region. 

Confidence slightly down

Economic confidence in the Taranaki, Manawatu and Whanganui region fell slightly during the last quarter but still remains largely optimistic, according to the latest Westpac McDermott Miller Regional Economic Confidence survey.

The findings show that the number of households expecting good economic times in the region over the year ahead fell from a net 42 per cent in December to a net 37 in March, and now sits on a par with the national average.

Westpac chief economist Dominick Stephens said it was difficult to point to a particular cause of the decline, with many of the key regional indicators improving broadly in line with nationwide trends.

Retailers would be particularly disappointed to see a fall in consumer confidence in the region, he said.

New building for sale

A newly developed building in the heart of Feilding will be auctioned off in two weeks unless a bidder is found.

The FMG building in Manchester Square, which opened last year, is being sold, with the insurance business to stay on as a tenant for at least the next six years.

Colliers International is selling the building, which earns rent of more than $155,000 a year.

The auction, if held, will take place just down the road at the BNZ Building, 31 Manchester Square, on Tuesday, April 8, at 11am.

A story of success

Three Keys' next speaker in its 2013-14 series of inspirational talks is a Wairarapa man who has been successful in agribusiness.

Allflex Australasia chief executive officer Shane McManaway will speak at the Hotel Coachman on April 10, the fourth of six speakers for this year.

Previous speakers have included Prime Minister John Key and Manawatu Silicon Valley success story Linda Jenkinson.

McManaway has no qualms about changing from the business attire of the boardroom to the boots of a farmer.

As well as the demands of his job with the multinational company, which he took on in 2005, McManaway is the inaugural chairman of the Wairarapa Development Group and has his own deer and beef farm, Gold Creek, in Matarawa, Carterton.

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Send business news to  (with Business Time in the subject line) or call reporter Chris Hyde on 06 355 8778.

Manawatu Standard