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23 June 2010
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Media Release
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Business Confidence in Waikato
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Confidence of
Waikato business owners in their prospects for the next six months has noticeably fallen compared to three months ago according to the latest Chamber of Commerce survey.
The quarterly survey also indicated that expectations of interest rate rises over the next 12 months have increased significantly, fewer business are intending to undertake new investment and employment intentions have tightened.
Points to note for the
Waikato survey:
· 51% of businesses believe the general business situation will improve over the next six months compared to 52% of this view in the March survey.
· 9% of businesses believe the general situation will get worse over the next six months compared to 7% of this view in March.
· However, 56% of business owners now believe their own business prospects will improve over the next six months compared to 65% of this view in March.
· 11% of business owners believe their own business will deteriorate over the next six months compared to just 6% of this view in March.
· 86% of businesses believe interest rates will increase over the next 12 months compared to 68% of this view last March.
· 43% of businesses expect average costs to increase over the next three months compared to 29% of this view last March.
Commenting, Wayne Walford said that despite the level of overall business confidence holding compared to three months ago this is not yet showing up in individual business profits and employment intentions. “The findings suggest businesses will remain cautious and focused on cutting costs and surviving what they see as a continuing tough environment than investing and positioning for growth.”
The Northern Region Chambers of Commerce have undertaken this survey for more than 10 years. The survey is conducted electronically over five days.
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For further information please contact:
Wayne Walford - Chief Executive Officer
021 835 865
07 838 3676 - DDI
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