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

 

Businesses realistic, confident about own prospect

MEDIA RELEASE

Embargoed until 1am

19 October 1999

Businesses realistic, confident about own prospects

Treasurer Bill English said the easing in business confidence in the September quarter, reported in the NZIER's Quarterly Survey of Business Opinion (QSBO), was not unexpected.

"Business confidence has continued to edge down from the unsustainably high levels recorded at the beginning of the year. The strong readings earlier in the year were out of line with expectations about the economy's growth prospects. Confidence levels are now at more realistic levels and are consistent with solid growth in the economy.

"The survey also showed that firms are more optimistic about their own prospects than they are for the economy as a whole. This has been a common feature of confidence surveys over the past six months.

"A net 18% of firms expect the general business situation to improve over the next six months. But a far greater number - 30% - expect their own business to improve. Firm's expectations of their own business have remained steady since the beginning of the year.

"The QSBO also showed that underlying economic activity has continued to improve, providing further evidence that the economy has strengthened from the weak June quarter. Firms reported robust growth in activity in the September quarter from June. This pick-up was strongest in the manufacturing and building sectors. And firms expect their own activity to pick-up further in the December quarter.

"In line with this confidence in their own prospects, firms are becoming more optimistic about their own profitability and are indicating that they intend to take on staff," said Mr English.

Ends


© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Scoop 3.0: How You Can Help Scoop’s Evolution

We have big plans for 2018 as we look to expand our public interest journalism coverage, upgrade our publishing infrastructure and offer even more valuable business tools to commercial users of Scoop. More>>


Statistics: Butter At Record $5.67/Block; High Vegetable Prices

Rising dairy prices have pushed food prices up 2.7 percent in the year to October 2017, Stats NZ said today. This followed a 3.0 percent increase in the year to September 2017. More>>

ALSO:

Science: New Research Finds Herbicides Cause Antibiotic Resistance

New University of Canterbury research confirms that the active ingredients of the commonly used herbicides, RoundUp, Kamba and 2,4-D (glyphosate, dicamba and 2,4-D, respectively), each alone cause antibiotic resistance at concentrations well below label application rates. More>>

ALSO:

CO2 And Water: Fonterra's Environment Plans

Federated Farmers support Fonterra’s bold push to get to zero emissions of CO2 on the manufacturing side of the Co-operative, both in New Zealand and across its global network. More>>

ALSO:

Fisheries: Decision To Delay Monitoring ‘Fatally Flawed’

Conservation group representatives say a decision by the new Minister of Fisheries, Stuart Nash, to delay implementation of camera monitoring of fishing efforts in New Zealand is ‘fatally flawed’. More>>

ALSO:

Kaikōura Quakes: One Year On

State Highway One and the railway were blocked by damage and slips and the Inland Road suffered significant damage. Farms, homes and businesses suffered building and land damage. Power and internet went down, drinking water systems, sewage systems and local roads were all badly affected... More>>

ALSO: