Despite the optimism, some businesses and sectors are still finding things tough. Photo: Christchurch City Council
Canterbury's business community remains positive, despite ongoing economic pressures.
Business Canterbury has released its August quarterly survey, which showed it's not all doom and gloom, with 64 percent of firms expecting the local economy to strengthen over the next year.
More than half (55 percent) planned to hire, and 59 percent intended to invest in property, plant or equipment over the next 12 months.
The survey also showed declining confidence in the government's ability to manage the economy.
Despite the positive results, Business Canterbury chief executive Leeann Watson said some businesses and sectors were still finding things tough.
"What certainly hasn't helped is that really stubborn consumer confidence and demand," she said. "We're really hoping, as we've heard a lot about, I think it's about 60 percent of people that have got fixed-term mortgages will be coming off those fixed-term mortgages in the next quarter.
"We really hope that will help provide that consumer confidence, which will, in turn, help give people more money in their back pockets, and they'll get out there and support some of those sectors that have probably worn the brunt of that, so the bars and the restaurants and the retailers. " she said.
Watson said, despite this, most firms remained positive.
"While still just below long-term averages for key business confidence metrics, overall positivity reflects how Canterbury operates - we don't ride the booms and busts like other main centres, and right now, that stability is our not-so-secret weapon.
"In Canterbury, businesses are being established at twice the national rate. Our regional GDP is slightly positive, while the rest of the country faces nearly one percent retraction.
"Right now, we are the most attractive place in New Zealand for people to live and work, but we know confidence alone won't carry us forever and it's certainly still very tough out there for many.
"While intent to grow is strong, businesses can't do it alone," she said. "We need growth-ready conditions, shaped by both central and local government, and with local elections underway and a general election quickly approaching, now is the time to prioritise settings that enable investment, hiring and innovation."
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