Weekly Digest – 30 October 2024

Weekly Digest – 30 October 2024

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

Mid-sized businesses report return in customer demand

Mid-sized business sentiment is being lifted by rising sales and production in the lead up to Christmas. Accounting software company MYOB’s latest survey shows more than three quarters believe the economy will improve in the next 12 months.

Jumbo-sized 75 point OCR cut possible next month

The debate is growing about whether the Reserve Bank should make a jumbo-sized cut to the official cash rate next month. Financial markets are pricing in a 20% chance of a 75 basis point cut in November, and there are suggestions it may be necessary with the next meeting not taking place until February next year.

Black Friday and Christmas survival guide for running fair sales

Black Friday and Christmas are a prime opportunity for running special offers and promotions. But remember your pricing and promotions must be fair and legal. Check out this survival guide for running fair Black Friday and Christmas sales.

A chokehold on small businesses: how late payments are hindering economic growth

Have you noticed lots of empty windows and ‘for lease’ signs on your local high street? That’s because many of our Kiwi small businesses are closing. The current climate of higher interest rates and inflation are sadly seeing many Kiwi SMEs shutting their doors. When inflation and interest rates are high, the value of having positive cashflow is so much more important. In 2023, late payments hit small businesses especially hard.

Building resilience: How NZ supply chains can withstand global shocks

Can Aotearoa’s supply chain build enough resilience and sustainability to survive the next global crisis?

Economic confidence soars among New Zealand’s mid-market businesses

New Zealand’s mid-market businesses are experiencing a surge in economic confidence, reaching a three-year high, according to a recent poll conducted by business management platform MYOB.

Single regulator, industry levy for new AML regime

New Zealand’s anti-money laundering and countering financing of terrorism (AML/CFT) regime will move to a “single supervisor” model and a new industry levy will help pay for reforms, Associate Justice Minister Nicole McKee says.

Is house price inflation a distant memory?

For many years it has been hard to go past housing as an investment in New Zealand, with house buyers being able to borrow most of the purchase price and house price inflation resulting in capital gains on the money invested. For many, the investment in a house provides the extra value gained from owning their own home and no tax on capital gains. However, the last two years have told a different story.

Economy will improve sooner rather than later, but uncertainty remains

The economy is expected to improve sooner rather than later, though the path may be far from smooth as an upturn in geopolitical risks increase market volatility. “Households, businesses and financial markets need to keep an open mind about how the economy will play out over coming quarters,” Westpac chief economist Kelly Eckhold said, adding that significant uncertainties continued to cloud the economic outlook.

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