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

 


Southern confidence to drive record activity in 2014

ANZ Bank New Zealand Ltd

Media Release

For Release: 8 January 2014

Southern swell of confidence set to drive record activity in 2014 – ANZ Business Micro Scope

A record wave of business activity is set to sweep across the nation in 2014, driven by a swell of optimism from the South Island, according to ANZ’s quarterly Business Micro Scope survey of small firms. Retailing, agriculture and manufacturing are leading a lift in optimism which has seen firms’ expectations of their own activity, hiring and profitability for the coming year soar to new highs.

Fred Ohlsson, ANZ’s Managing Director, Retail and Business Banking, said:

“Rising confidence is sweeping across New Zealand, further boosting the outlook for businesses and the economy in 2014. Construction and agriculture are caught in the tail wind of the Canterbury rebuild and increasing commodity prices. But optimism is at or near historic highs across all major sectors, paving the way for a broad-based uplift in business activity, employment and economic growth.

“These factors have come together to create a sweet spot for the South Island, with optimism in Canterbury spilling over to the rest of the island whose record-high optimism now tops that of Canterbury itself. Though not quite at these levels, business confidence in Auckland also enters the New Year at a new high which bodes well for the role of our largest city in the upturn.

Highlights from the Dec 2013 ANZ Business Micro Scope survey of small firms:

[Net percentages reflect the balance of sentiment – i.e. positive minus negative responses]

• Confidence is at its highest since comparable data was first collected in 1999, with record numbers of firms expecting to up activity, hiring and profitability in 2014.

• A net +45% of firms expect to lift business activity in the coming year, double the long-term average. A net +17% plan to take on more staff and +29% expect profits to rise.

• Confidence in Canterbury (up from +21% to +27%) is spilling into the Rest of the South Island (up from +21% to +30%) which now leads the nation. Auckland firms continue to gain confidence, reaching a new high for the region of +24%.

• Services is the most upbeat sector, at +25%. Retailing recorded the largest lift in confidence (from +14% to +22%), followed by Agriculture and Manufacturing. Agriculture was the top sector for profit expectations for the first time in two years.

“These findings mirror what we’re hearing from customers: they see the approaching growth wave and are gearing up to ride it in a way that positions them better for future economic cycles. For a nation of small businesses, this spells good news for employment and the ongoing strength of our economy.”

ENDS

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Future Brighter Money: RBNZ Releases New Bank Note Designs

New Zealand’s banknotes are getting brighter and better, with the Reserve Bank today unveiling more vibrant and secure banknote designs which will progressively enter circulation later next year. More>>

ALSO:

Commerce: Supermarket Inquiry Finds No Breaches By Countdown

The Commerce Commission inquiry into anti-competitive behaviour by Countdown supermarkets, alleged by former Labour Party MP Shane Jones, has found nothing to warrant prosecution, although it warns supermarkets to take care in the way they communicate... More>>

ALSO:

Crown Accounts: English Flags ‘Challenge’ To Budget Surplus

Finance Minister Bill English is warning next month’s half yearly fiscal and economic update from the Treasury may not forecast a budget surplus, saying that returning the government’s accounts to surplus in 2015 will be “a challenge”, given the decline in commodity prices and weak global inflation. More>>

ALSO:

March 2015: Netflix To Launch In Australia And New Zealand

World’s Leading Internet Television Network to Offer Original Series, Movies, Documentaries, Stand-Up Comedy Specials and TV Shows for Low Monthly Price More>>

ALSO:

Price Of Cheese (Is Up): Dairy Product Prices Fall To Five-Year Low

Dairy product prices fell in the latest GlobalDairyTrade auction to the lowest level in more than five years, led by declines in rennet casein and skim milk powder. More>>

ALSO:

Gordon Campbell: On The Australians Scoring Trade Points Against Us With The Chinese

It hasn’t been a great year for Trade Minister Tim Groser... To top it off, Australia has just signed a FTA with China that has far better provisions on dairy exports than what New Zealand currently enjoys in our own FTA with China. More>>

ALSO:

Iwi & Local Consultation: Oil And Gas Block Offer 2015 Begins

Energy and Resources Minister Simon Bridges today announced the start of the Block Offer 2015 process for awarding oil and gas exploration permits. More>>

Industrial Action: Stats NZ Throwing Public Money Away Duplicating Data

The Public Service Association (PSA) says Statistics NZ are throwing money away by collecting the same data twice for official statistics such as the Consumer Price Index... As part of the ongoing industrial action, field interviewers who are PSA members are continuing to collect data, but are not sending it through to Statistics NZ. More>>

ALSO:

Other Stats:

Space: Rosetta's 'Philae' Makes Historic First Landing On A Comet

After more than a decade traveling through space, a robotic lander built by the European Space Agency has made the first-ever soft landing of a spacecraft on a comet. More>>

ALSO:

Get More From Scoop

 
 
Standards New Zealand

Standards New Zealand
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news