Weekly Digest – 4 October 2023

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

More interest rate rises ahead? How the experts split

Experts are now divided on whether interest rates will head higher before the end of the year and pile more pain on home buyers.

Business NZ expects economy will come under increasing pressure

BusinessNZ expects the New Zealand economy will come under increasing pressure over the next couple of years, resulting in miniscule growth and a downturn in the business outlook.

Changes to support the integrity and compliance of the building warrant of fitness regime

Cabinet have approved changes to the building warrant of fitness regime, including new and enhanced offences and penalties for non-compliance.

How bad is the economy, really?

Experts debate whether the government’s spending has led to sustainable growth – while some argue that growth driven by government spending and exports is positive, others express concern about rising debt, inflation, and an unsustainable current account deficit.

Employment Confidence Index has turned negative

Labour market sentiment in New Zealand has taken a sharp turn to the negative. The Westpac McDermott Miller Employment Confidence Index (ECI) fell by 7.4 points to 98.3 in the September quarter. This is the first time since March 2021 that households have held a negative view about conditions in the labour market, and the lowest reading for the index since December 2020. (A reading under 100 indicates that pessimists outnumber optimists.)

Become a 2023 Cyber Smart Supporter

Cyber Smart Week is CERT NZ’s annual campaign aimed at raising awareness of cyber security across Aotearoa. You can take part in Cyber Smart Week no matter what size your business is.