Improved Treasury forecasts a boost for retailing

Media release
Newmarket Business Association
Tuesday, 15 December 2009

Improved Treasury forecasts a boost for Christmas retailing

Treasury's revised economic forecasts released today could not be better timed for New Zealand’s retailers 10 days short of Christmas, says Cameron Brewer, chief executive of the Newmarket Business Association.

"Most people are generally feeling better about things but are still holding back. We needed a circuit breaker. Retail relies so heavily on the feel-good factor. These revised forecasts out of Treasury will only help consumer confidence.

"If it had been a worsening forecast then more people would have kept their hands in their pockets this Christmas. The timing of this improving economic outlook could not have been better.

"Rest assured if Bill English is allowing himself to talk more positively then things must be improving. He's certainly not one to jump the gun when it comes to good economic news.

“Going into Christmas people want to hear that their prospects are improving not worsening. It makes pulling out the credit card that much easier," says Cameron Brewer.

ENDS

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