Retailers in Canterbury are feeling optimistic, according to a Chamber of Commerce survey. Photo: RNZ / Nate McKinnon
Businesses in Canterbury are optimistic about what lies ahead despite various economic headwinds putting many under pressure.
A recent survey by the region's Chamber of Commerce showed nearly half of businesses expected their own earnings to substantially or moderately improve in a year's time.
It was a significant improvement from the 32 percent reported in the previous survey in October.
The chamber's chief executive Leeann Watson said businesses in Canterbury were more diverse than other main regions, which fuelled the more optimistic outlook.
"What that really means is that when one sector perhaps is more impacted by some sort of disruption the others tend to be less impacted.
"So we've got that balance across our community and across out economic performance."
Watson said Canterbury had a good spread across the primary, manufacturing and services sectors unlike some other regions, where they may be over-reliant on one industry such as tourism.
But she said it was not all positive news, with nearly 60 percent of firms facing labour market pressures.
"With 78 percent of businesses surveyed thinking New Zealand is heading in the wrong direction - a similar level to the previous year - there is clearly more work to do by the government to provide support to recover the economy and promote economic growth.
"On the whole despite these ongoing challenges, the Canterbury economy is performing well, underpinned by sufficient housing stock and reliable infrastructure with a strong backbone of primary industries, manufacturing, and construction which position the region in a solid position to weather the economic challenges that are set to continue for quite some time."