Weekly Digest – 06 December 2023

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

Business confidence rises to its highest level in nearly nine years

Indications of future inflation were a “mixed bag” in the latest ANZ Business Outlook Survey – but the new Government’s honeymoon has very much continued, with overall business confidence hitting its highest level since March 2015.

NZ interest rates need to stay high, tax cuts may drive inflation – OECD

The New Zealand economy will post only modest growth for the next couple of years, interest rates need to stay high for an extended period, and tax cuts may cause issues, according to the Organisation for Economic Co-operation and Development (OECD).

KiwiSaver: Early withdrawals double as purses put under strain

The money withdrawn early from KiwiSaver funds due to financial hardship has doubled compared with a year ago, with significantly more people taking money out before retirement.

ANZ dairy analysts foresee rising milk prices

The ANZ economics team has raised its farmgate milk price forecast for the current season by 55c to $7.70/kg milksolids and begun next season’s predictions with $8.50.

Consumer confidence remains pessimistic as inflation pressures persist

Consumer confidence has improved but remains pessimistic as household budgets stay squeezed, deterring people from big spending. ANZ’s November consumer survey showed sentiment rising four points to 91 – readings below 100 are regarded as pessimism.

New study highlights NZ corporates’ commitment to sustainability

A recent report by the Sustainable Business Network (SBN) delves into the integration of sustainability practices within New Zealand’s corporate sector, drawing on interviews conducted with senior executives from nearly 30 diverse organisations and providing a comprehensive overview of current sustainability trends and priorities.

Event ignites innovation and discovery in New Zealand students

With over 2,500 engineers needed each year to support New Zealand’s economy, aerospace engineering company Leonardo wants to ignite young people’s awareness of their potential to become New Zealand’s next generation of engineers.

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