A flicker of economic confidence

While things are looking much better in horticulture, dairying, manufacturing (exports) and residential property renting, in almost all other sectors negative sentiment prevails, says Alexander. “The upturn is in place still and we anticipate much firmer growth in the economy next year. But for now most businesses are still struggling to see it in their own activities.”

The results come from monthly survey of over 22,000 of Alexander’s Weekly Overview readers. “The rise is the first since April and suggests that when the next monthly BNZ Business Outlook survey appears in three weeks we will see an improvement in sentiment also, probably accompanied by improved readings for employment and investment intentions,” says Alexander.

He says individual industry responses in the latest survey can broadly be summarised as follows:

Accountancy
Still generally weak with few new clients, bills getting paid late.

Advertising & Marketing, Media
Mainly negative comments, though one noting an upturn.

Agriculture
Dairy firm, sheep and beef same age-old story – struggling.

Construction
Weak apart from anticipated rebuilding in Canterbury.

Forestry/Manufacturing/Sawmilling
Strong Chinese demand.

Horticulture
Generally positive comments.

Information Technology/Telecommunications
Seems firm.

Legal
Weak trading conditions.

Manufacturing
Positive export comments.

Packaging
Mixed to positive comments.

Property Development
Little happening.

Property Management
Rising rents, some rental shortages appearing.

Real Estate – Non-residential
Mild signs of improvement this month, interestingly.

Real Estate – Residential
Vendors only selling if they have to, buyers sitting on their hands, but those actively looking finding properties not readily available, little evidence of price movement. Activity levels still low.

Real Estate – Rural
Flat as ever overall.

Recruitment
Volumes improving.

Retail
A few more positive comments than in recent months, but overall activity remains weak.

Tourism and Travel
Patchy with still weak undertone apart from those serving Australian visitors.

 

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