18 Aug 2010
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MYOB: No return to recession

According to the August MYOB Business Monitor report, over one third of New Zealand businesses reported more work or sales in the pipeline for the next three months.

The report also brings the welcome news of a major resurgence in New Zealand business revenue since the global financial crisis began.

The figures show massive improvement over the April Monitor, when 35% of businesses reported a revenue decrease.

MYOB General Manager, Julian Smith, said, “Although many businesses have been disappointed with the pace of the recovery - and this seems to be reflected in confidence surveying - the financial performance data we collect shows some encouraging signs for the future.

"Based on what businesses are telling us about the last 12 months of activity, and the amount of work they have in their sales pipeline, it's unlikely we'll see a return to recession."

The report suggests that 43% of organisations expect revenues to increase over the next 12 months.

You can read more here.

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