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New Zealand firms 'far more optimistic than Australians'


New Zealand firms 'far more optimistic than Australians'

New Zealand firms 'far more optimistic than Australians'
Companies in New Zealand are far-more optimistic about the future of their firms economically than their Australian counterparts across the sea, a new study has shown, meaning that there could be a greater number of new positions on offer in the nation throughout 2013.

A survey carried out by Grant Thornton IBR discovered that the business sentiment and confidence in New Zealand is a full 22 per cent higher this year than it was a year ago, and the company said this meant that it was well ahead of Australia, and the general world level as businesses look forward to 2013.

Both New Zealand and its near neighbour saw increases in their confidence over the past 12 months, but while New Zealand jumped as high as 58 per cent, Australia could only climb to 31 per cent.

"New Zealand business owners have accepted the tough grind we've been going through over the last couple of years is the new norm and they're just knuckling down and doing the business," said Pam Newlove, a partner at Grant Thornton IBR.

"Australia may not have suffered the level of pain we endured in the global financial crisis, but with the slowdown of China and the fall in commodity prices, indicators have turned south in the 'lucky country' with a slew of major redundancies in some of the larger companies."

It was also discovered that there are far more firms in New Zealand who have said that they think they will increase their workforce in 2013 to cope with more business.

In New Zealand, 34 per cent of owners and high-level executives agreed that this was likely to be the case in the year ahead. However, across the water, only eight per cent in Australia said that the same was true.

Higher hiring intentions after Christmas can often be rare thanks to the fact companies are more likely to get rid of temporary staff, but it shows how well New Zealand is performing.

Posted by Lee ThraceADNFCR-1275-ID-801516289-ADNFCR

Posted: 03 January 2013 18:10:00
Filed under: Rest of the world
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