Latest news with #firms
RNZ News
3 days ago
- Business
- RNZ News
Business confidence drops three months in a row
An EFTPOS card being swiped at a terminal. Photo: 123RF Business confidence has retreated for a third month in a row as businesses struggle to recover costs, and uncertainty over trade policies overshadowed signs of an improving economy. ANZ's monthly sentiment headline measure fell 12 points to a net 37 percent of firms expecting an improvement in the year ahead. While the more closely followed measure of businesses' own outlooks dropped 13 points to 35 percent. Chief economist Sharon Zollner said the survey still pointed to a recovering economy, but with headlines obscuring some of the positives. "The economy is recovering, but it's still hard going here and now, and that it's still difficult to pass cost increases through to prices." Zollner said a slight rise in inflation expectations to 2.71 percent was marginal, while firms expected a 2.5 percent rise in costs over the next few months but to be able to raise their prices by 1.7 percent. "Overall, there are not any obvious grounds for the RBNZ to be overly concerned about the recent tick higher in some surveys of inflation expectations." The survey showed firms expecting weaker profits, to invest less and pull back on hiring. Zollner said there was plenty of scope for volatility sparked by tariff policies to change firms' opinions and activity, but for the time being the Reserve Bank had scope for more rate cuts to help the economy. "We expect the RBNZ will ultimately take the Official Cash Rate to a low of 2.5 percent to shore up the economic recovery as it faces into global headwinds."
Reuters
3 days ago
- Business
- Reuters
Australia business investment dips in Q1, drags on growth
SYDNEY, May 29 (Reuters) - Australian business investment dipped in the March quarter as gains in mining were offset by a pullback elsewhere, while a drop in equipment spending looked to have dragged on economic growth. Data from the Australian Bureau of Statistics on Thursday showed private capital spending fell a real 0.1% in the first quarter from the previous quarter, when it rose a revised 0.2%. The market forecast had been for an increase of 0.5% in the March quarter. Spending on buildings and structures rose 0.9%, while spending on plant and machinery fell 1.3%. An ABS survey of firms showed they planned to spend A$155.9 billion ($99.99 billion) in the fiscal year to June 2026, in line with analyst expectations. ($1 = 1.5591 Australian dollars)
CNA
3 days ago
- Business
- CNA
Real wages grew 3.2% in 2024 as inflation eased: MOM
Wages in Singapore grew at a faster pace last year compared to the previous year, as inflation eased. Real wages grew 3.2% on-year, up from the previous 0.4%. It's the highest increase since 2019, when it grew 3.33%. Analysts and the Manpower Ministry expect wages to moderate further amid geopolitical tensions and global trade uncertainties. More than three quarters of firms in Singapore gave their employees wage increases last year, as a majority were profitable. But the salary bump last year was less than the year before.
CNA
4 days ago
- Business
- CNA
Major push to boost AI capabilities in firms to sharpen competitive edge
Singapore is pushing hard to digitalise and boost AI capabilities in firms to sharpen their competitive edge. Such a move will prepare them to better navigate economic uncertainties and tech breakthroughs which have disrupted some industries. A number of expanded programmes will help firms tap expertise and adopt generative AI solutions more quickly.
