The fall should be short-lived once the new government clarified its priorities
Business confidence in the Auckland region has fallen dramatically, the latest survey from the Auckland Chamber of Commerce revealed.
The findings show that only 18% of businesses believed New Zealand economy would improve in the next six months and 33% believed it would deteriorate – this compares with 30% and 12% respectively form the last quarter survey.
Chamber chief executive Michael Barnett said the election and change in government uncertainties partly drove the fall in confidence.
“Business operates best in an environment of certainty – when business is confident it employs and invests,” he said.
“The uncertainty around immigration and investment intentions in infrastructure adds to this, but it should be short-lived once the new government clarified its priorities.”
The survey also revealed that employers were continuing to have difficulty finding the right people with the right skills, with 44% of respondents indicating difficulty recruiting the right talent to grow their business.
Related stories:
Investor confidence softens
Consumer confidence slips further
The findings show that only 18% of businesses believed New Zealand economy would improve in the next six months and 33% believed it would deteriorate – this compares with 30% and 12% respectively form the last quarter survey.
Chamber chief executive Michael Barnett said the election and change in government uncertainties partly drove the fall in confidence.
“Business operates best in an environment of certainty – when business is confident it employs and invests,” he said.
“The uncertainty around immigration and investment intentions in infrastructure adds to this, but it should be short-lived once the new government clarified its priorities.”
The survey also revealed that employers were continuing to have difficulty finding the right people with the right skills, with 44% of respondents indicating difficulty recruiting the right talent to grow their business.
Related stories:
Investor confidence softens
Consumer confidence slips further
