Business Confidence Survey - Uncertainty
Uncertainty was the most used sentiment in the Auckland Chamber of Commerce August Business Confidence Survey.
Exporters reported continued difficulty with the New Zealand dollar at such high levels, that exporting is either uncompetitive or profitless. Local manufacturers on the other hand reflected increased competition from imports for the same reasons.
While many of the respondents hoped the RWC would provide a stimulus to the economy, most felt that many of the benefits of hosting this event, other than hospitality and tourism, had been received, and that post RWC there was little to get excited about other than the possibility of modest recovery, and any benefit the Christchurch rebuild may offer the economy.
Other Results:
Exporters reported continued difficulty with the New Zealand dollar at such high levels, that exporting is either uncompetitive or profitless. Local manufacturers on the other hand reflected increased competition from imports for the same reasons.
While many of the respondents hoped the RWC would provide a stimulus to the economy, most felt that many of the benefits of hosting this event, other than hospitality and tourism, had been received, and that post RWC there was little to get excited about other than the possibility of modest recovery, and any benefit the Christchurch rebuild may offer the economy.
Other Results:
- A net 26% believe the economy will improve which was the same as the June quarter result
- 20% of respondents are having an increased difficulty in finding skilled employees
- 18% of firms intend employing.
40% of firms believed the hours worked by employees would be up in the next quarter - 73% of firms believe profitability would be the same or better in the next quarter