Thursday, 14th August, 2014

Business confidence falls

While confidence within individual firms remains high, general confidence in the Auckland economy fell dramatically in the latest Chamber of Commerce Survey.

Chamber CEO Michael Barnett suggested “you could blame it on seasonal issues like winter or on the uncertainty imposed by the general election but there are worrying indicators in play” he said.

Key Findings:

  • 34% of firms suggested they are having difficulties getting the right people with the right skills.
  • 9% of firms are having difficulty attracting unskilled labour.
  • Businesses generally are facing reducing margins and retailers in particular are having to deal with increasing competition from online/ internet sales.
  • Trades reported that the flow through of work from the housing boom was not yet happening.
  • Exporters maintain the high dollar is denying them international opportunities.

Each of these factors are constraints to growth on their own and the skills issue needs attention from both business and Government the Chamber suggested.

For more results of the Auckland Chamber of Commerce August 2014 Business Confidence Survey, please click here.

For more information contact Michael Barnett, mobile: 0275 631 150.
Michael Barnett, Chief Executive, Auckland Chamber of Commerce.