Business blames Govt policy U-turns
BusinessNZ survey finds Government policy reversals after 2023 election is their biggest concern for the economy & themselves; Services sector slides into deeper contraction; Ryman capitulates
Briefly on Tuesday, September 15, the top news, scoops and deep-dives in Aotearoa’s political economy around housing, poverty and climate are:
A BusinessNZ survey of 130 businesses in August found their biggest concern was reversals of Government policies after the election. The survey published this morning showed low customer demand was their second biggest concern.
BusinessNZ CEO Katherine Rich said of the concern about policy reversals: “This differs from the top concerns in 2024, which were interest rates and profitability challenges.”
Another BusinessNZ-BNZ survey of purchasing managers published yesterday shows the services sector, the country’s main engine room of growth, fell even deeper into contractionary territory in August. BNZ Economist Doug Steel said the long-awaited GDP rebound may be delayed.
Ryman Healthcare put its flagship piece of land next to Hagley Park in Christchurch up for sale yesterday, effectively capitulating after years of waiting for a rebound in sales by retiring boomers of their suburban homes. In turn, boomers are still waiting for their CVs to rebound before selling.
Coming up today, Stats NZ is scheduled to publish monthly food, rent, transport, fuel and other monthly inflation indicators at 10.45am. The Real Estate Institute (REINZ) is due to publish house sales data for August later this morning.
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