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Report shows brighter economic outlook for Wellington

An increase in productivity in Wellington, as identified by research released today, is excellent news, says Wellington Employers’ Chamber of Commerce Chief Executive Raewyn Bleakley.

“Though the numbers in the Infometrics/Wellington City Council research come from last year, they confirm what more recent surveys have indicated – that the city is on the way back.

“The Chamber’s recent business confidence survey, and a later one by the NZ Institute of Economic Research, showed that businesses are the most optimistic they’ve been for 20 years.

“When taken with this research, it all adds up to an economy which is really starting to move.

“We should now be looking forward with real confidence to the year ahead and beyond.

“With the national economy also predicted to grow in the region of 3 per cent this year, there is a general feeling of optimism in our business community, and that is showing up in these productivity gains.

“This is likely to be the result of many factors, including the council’s long-term economic strategy.

“Our creative and knowledge-based industries are leading the way for us, and we must make sure we attract more of them.

“We must not take our foot off the pedal. We must build on the gains we have made, keep attracting business and businesses, and ensure our arts and events programme continues to be the best in the country.

“These are the things that will contribute to a brighter economic outlook which is great news for our city.”

ENDS

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