As we reach the close of the third quarter of 2020, the latest statistics on the New Zealand economy give us a picture of the depth of the recession in the first half of the year, with the domestic economy contracting 12.2% in the June quarter. GDP is the topic of the month, and while the contracting economy is no surprise with the strict lockdown measures, NZ’s performance is perhaps a little better than expected when compared with The Treasury’s Budget forecasts back in May (green line in graph below left). The September Pre-election Economic and Fiscal Update expects GDP to rebound in the next quarter.
Te Waka Business Sentiment Survey - February 2021
During the COVID-19 lockdown period, Te Waka, Waikato’s Regional Economic Development Agency partnered with a number of organisations to understand the sentiment of Waikato businesses assessing confidence and future plans. The aim to complete a six-monthly survey tracking the Waikato’s progress to develop support programmes and services that our business community can utilise to thrive and grow.
The latest online survey of 565 Waikato business owners and managers has revealed they are more optimistic about the regional economy now than they were six months ago, but remain less confident about the country’s economic performance as a whole.
Respondents also indicated that while there had been concerns about the effects of border closures on the ability to access suitable labour, nearly half surveyed said the shortage of skilled New Zealand residents was a problem compared to only four per cent who believed a lack of skilled immigrants was the issue.
Survey results - Districts
Te Waka Economic Radar 2 October 2020
Here at Te Waka, we are wanting to understand the sentiment of Waikato businesses in the current environment.
We want to understand the sentiment of Waikato businesses in the current environment. This will help us to develop support programmes and services that our business community may require to survive, revive and grow.
To do this, we would love it if you could take part and provide your valuable business insights.
Your responses are confidential and the results of this survey will only be used at a grouped level.
Please note that we are collaborating with our other Waikato partnership agencies to reach as many Waikato businesses as possible so you may receive an invite to join this survey more than once.