Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search


Newmarket bucks gloomy economic sentiment

14 July 2005

Newmarket bucks gloomy economic sentiment

The Newmarket Business Association has today released results of its own business confidence survey. The results put economic optimists in Newmarket in the clear majority, despite economists reporting growing pessimism nationwide.

Newmarket retailers and businesspeople were asked whether they felt more optimistic or less optimistic about doing business in Newmarket in the coming 12 months compared to the past 12 months. Only 14 percent said they felt less optimistic, while 40.8 percent said they felt more optimistic and 45.2 percent said they felt about the same.

"We are told that economic growth is slowing, consumer spending is tailing off, and that business confidence is sliding. Such negative sentiment however has yet to hit Newmarket - the country's premier retail destination," said Cameron Brewer, General Manager of the Newmarket Business Association.

"Newmarket remains upbeat with business confidence and turnovers still strong. Substandard infrastructure is Newmarket's only real negative factor, with the precinct looking increasingly shabby and our footpaths in desperate need of replacement.

"We know the country's manufacturing sector is feeling the pinch but retail spending in Newmarket appears to be holding its own. People are still parting with their pennies thanks to the likes of ongoing growth in the job market, wages and salaries, and the housing market."

Mr Brewer also attributes optimists in Newmarket heavily outweighing pessimists to significant development and growth on the horizon.

"Newmarket businesspeople know that there are some big retail developments planned for the precinct, that more office-based businesses are locating here, and that the council has identified us as a priority place for residential intensification.

"The fact that we've got so much commercial and population growth in front of us helps inspire confidence into Newmarket people. What's more, modern Newmarket is a very mixed-use precinct, meaning our economic base is broader and subsequently more resilient to any dampening economic forecasts," he said.

Mr Brewer said 157 members of the business association had responded to the survey over two weeks. The Newmarket Business Association is Auckland's second largest business association.


© Scoop Media

Business Headlines | Sci-Tech Headlines


Voluntary Administration: Renaissance Brewing Up For Sale

Renaissance Brewing, the first local company to raise capital through equity crowdfunding, is up for sale after cash flow woes and product management issues led to the appointment of voluntary administrators. More>>


Approval: Northern Corridor Decision Released

The approval gives the green light to construction of the last link of Auckland’s Western Ring Route, providing an alternative route from South Auckland to the North Shore. More>>


Media Mega Merger: Full Steam Ahead For Appeal

New Zealand's two largest news publishers have confirmed they are committed to pursuing their appeal against the Commerce Commission's rejection of the proposal to merge their operations. More>>

Crown Accounts: $4.1 Billion Surplus

The New Zealand Government has achieved its third fiscal surplus in a row with the Crown accounts for the year ended 30 June 2017 showing an OBEGAL surplus of $4.1 billion, $2.2 billion stronger than last year, Finance Minister Steven Joyce says. More>>


Mycoplasma Bovis: One New Property Tests Positive

The newly identified property... was already under a Restricted Place notice under the Biosecurity Act. More>>

Accounting Scandal: Suspension Of Fuji Xerox From All-Of-Government Contract

General Manager of New Zealand Government Procurement John Ivil says, “FXNZ has been formally suspended from the Print Technology and Associated Services (PTAS) contract and terminated from the Office Supplies contract.” More>>