Auckland has joined the rest of the country in seeing a major slump in business confidence, says Labour’s Finance spokesperson Grant Robertson.
“This proves that in spite of the housing bubble, the city is not immune from nervousness about the growing problems for the economy.
“The NZIER Quarterly Survey of Business Opinion shows that business confidence is now down to its lowest level since the end of 2012.
“This is hardly surprising. The retail sector is the weakest when it comes to business confidence and retailers are now in negative territory when it comes to optimism about sales .
“The Government must stop the spin over the economy and take responsibility for guiding New Zealand through the storms gathering on the horizon.
“If Labour was in government our Kiwibuild programme and investment in regional economic development would be under way and we would make sure the economy stopped drifting any further.
“It’s time the Government took some action and stopped spinning the same old PR on the economy,” says Grant Robertson.