Weekly Digest – 8 November 2023

Weekly Digest – 8 November 2023

Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy.

Post-Election business sentiments revealed: Optimism ahead

The Auckland Business Chamber has conducted a post-election Business Confidence Survey, offering a snapshot of the sentiments and priorities among Auckland businesses. The results reveal significant changes in business confidence among Auckland businesses compared to our previous survey.

Public-private partnerships needed to fix $5 trillion ‘infrastructure gap’

The private and public sector will need to work in partnership (PPPs) to meet the estimated $5 trillion of infrastructure required for New Zealand and its four regional partners over the next few years. The chief financial officer of the Asia Infrastructure Investment Bank (AIIB) said governments could not afford to pay for a wide range of costly development projects required to mitigate and adapt to climate change, as well as other goals for sustainable development.

Sharemarket on course for third successive losing month

With just two trading sessions remaining until the end of the month, the NZ sharemarket is on track to record its third successive losing month as buyers continue to remain on the sidelines and signs emerge of an economy facing increasingly ominous headwinds.

NZ Herald’s Liam Dann: What can we expect from National’s plan for the economy?

NZ Herald business editor at large Liam Dann says the incoming Government will want to begin by clearing up the short-term economic issues.

Unemployment predicted to peak at 5 percent as labour market and inflation remain tight

The latest unemployment figures show the number out of work is at its highest in two years, while wage inflation is dropping. The under-utilisation rate – which reflects untapped capacity in the market, including the unemployed, and those working fewer hours than they would like – is also up by 0.5 percent. ASB senior economist Mark Smith said unemployment should peak at around 5 percent in the next 12 months.

Have your say on new forestry qualifications

Muka Tangata, the Workforce Development Council for the food and fibre sector, is seeking feedback on  streamlined new qualifications for forestry industry workers.

The Commerce Commission will be taking a close look at how much more consumers will be asked to pay to cover the cost of upgrades to the energy distribution network.  The regulator said revenue limits needed to increase to meet rising demand for electricity in the transition to a low-carbon economy.

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