Productivity drops for SMEs, Xero reports

Productivity drops for SMEs, Xero reports
Xero's country head Bridget Snelling says regional targeting is needed for productivity-focused policy. (Image: Xero)
Kaya Selby
Small businesses nationwide were 6.1% less productive in 2023 than the previous year, according to new data from accounting software provider Xero. The latest Xero Small Business Insights report showed all sectors and regions in New Zealand in the red.  Agriculture led the decline, with 12.1% less output, followed by hospitality and retail trade at –9.2% and –7.8% respectively.  A struggle for hospitality The report paints a grim picture for hospitality operators, whose labour productivity – measured by com...

More Economy

Inflation outcome shores up the view RBNZ will cut by November
Finance

Inflation outcome shores up the view RBNZ will cut by November

Economists say even earlier rate cuts are possible. 

Tom Raynel 17 Jul 2024
Annual inflation now at 3.3%
Economy

Annual inflation now at 3.3%

Inflation is now just above the RBNZ's target range. 

Rebecca Howard 17 Jul 2024
Weaker-than-expected inflation will clip the NZ dollar's wings
Economy

Weaker-than-expected inflation will clip the NZ dollar's wings

Two-year and 10-year swap rates are also falling.

Rebecca Howard 17 Jul 2024