A Sobering Drop in Business Confidence

Published: Wed 16 Dec 2009 05:05 PM
16 December 2009
Media Release
A Sobering Drop in Business Confidence
A drop in business confidence is the sobering news from the Auckland Chamber of Commerce’s survey taken this week from almost 900 firms.
The number of firms who expect business to improve in the next three months has dropped 7 percentage points in the last quarter while those who expect business to deteriorate has doubled.
“Business decision-makers appear to have put away their wallets and are expecting a difficult three months, regardless of talk about economic recovery,” says Michael Barnett, chief executive of the Auckland Chamber of Commerce.
Mr Barnett also noted that many firms are expecting low activity and revenue months in December/January, but have significant cash demands from employees’ holiday pay.
“A further concern from the survey is that already firms are expecting difficulty finding the right people with the right skills – the surveys showed a doubling from 7% to 14% of employers expecting hiring problems now,” he says.
Nevertheless, the survey showed that businesses do have strong recruitment intentions and an expectation that profitability will remain flat.
The survey was undertaken electronically last week across all business sectors in the Auckland region.

Next in Business, Science, and Tech

Christchurch Man Becomes First NZer To Win Apple Design Award
By: Payper
Fact Checking Artificial Intelligence
Partnering Indigenous Knowledge Systems And Western Science To Help Freshwater Thrive
By: Zealandia
Download Weekly: 3g use slows as networks face closure
By: Bill Bennett
Advice From Previous Winners Ahead Of $50m Powerball Must Be Won Draw
By: Lotto New Zealand
On The Brink – How Central Bank Digital Currency Threatens Civil, Constitutional And Human Rights
View as: DESKTOP | MOBILE © Scoop Media