Business confidence in free fall

The Herald reports:

The spiking price of fuel, slow progress on and and the threat of rising labour costs has sent business confidence in the country's biggest city into “free fall”, says Auckland Chamber of Commerce boss Michael Barnett.

The chamber last week surveyed 800 businesses and found nearly half (44 per cent) believed the will deteriorate over the rest of year.

Only 15 per cent thought the economy would improve during that time.

Compare that to June last year, when a third of businesses surveyed thought the economy would improve while only eight per cent believed things would get worse.

This is no surprise. When you have a that decides to close down an entire industry without consultation or advice, then no wonder business owners are spooked.

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