Business survey is optimistic

Press, 19 July 1989, Page 36

Business survey is optimistic

PA Wellington The worst of the recession is over, New Zealand businessmen say in a survey of business confidence by the international credit reporting firm, Dun and Bradstreet. Business executives polled by Dun and Bradstreet said they were confident of better times ahead in the next quarter, to September 30. The 400 questioned included retailers, wholesalers and manufacturers of industrial and consumer products. They were asked to compare their expected levels of sales, net profits, new orders, stock and employment for the three months to September 30 this year with the actual level for the same period last year.

The result showed increased confidence in all sectors except employment, Dun and Bradstreet said.

About 11 per cent indicated they would take on more people. Most indicated they were likely to meet their growing demand for goods and services by asking current staff to work longer hours. The Auckland-based economist, Mr Murray Weatherston, said the survey confirmed the mood he had detected from the New Zealand business community over the last months. “While the results of the survey aren’t dramatic, they do confirm that we’ve passed the trough,” he said.

“The one disappointing aspect is employment. There aren’t going to be many more jobs — if any — in the near future. But at least it’s not going to get worse,” Mr Weatherston said.

The business people were asked to indicate their optimism for future sales and a net 54 per cent said they expected an increase.