23 November 2017

Media Release

Business Confidence Falls

A Chamber survey of businesses in the Auckland Region reveals that business confidence has fallen dramatically.

When questioned on their view of the NZ economy in the next six months, only 18% believed it would improve and 33% believed it would deteriorate. (This compares with 30% and 12% respectively in the last quarterly survey.)

Chamber Chief Executive Michael Barnett said he believed a significant part of the reason was the election and uncertainty created by a change in Government.

“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,” he added.

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.

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