13 Apr 2013

Auckland firms confident of growth

10:09 am on 13 April 2013

Auckland Council says business are feeling confident about their growth prospects this year.

The council's latest Auckland Economic Quarterly report found a net 14% of firms have experienced an increase in business in the first three months of this year and are feeling positive about the future.

The city's economy grew 2.8% last year, just above the 10 year average of 2.5%, largely due to strong growth in Auckland's financial, retail and construction sectors.

The chief economist at Auckland Council, Geoff Cooper, says the city's job market has yet to benefit from the increase in activity.

Meanwhile, Mr Cooper expects Auckland's housing market to start stablising, as more houses are built this year.

He says building consents increased by 21% in 2012 compared to the year the year before, which while still below long term averages is a good start.