The IT sector remains buoyant and busy, according to the Bank of New Zealand’s latest monthly confidence survey.
One respondent noted “information systems consulting work [is] flowing from everywhere — impossible to cope with demand.”
The survey, which involves polling respondents across various industries, doesn’t break down results sector-by-sector, instead aggregating all responses into an overall result. However, if casual comments made by respondents from the IT sector are anything to go by, the sector is booming.
The respondent quoted above went on to say “the market is clearly moving towards fashionable technology trends and fads, and this means that businesses have more money than they can spend.”
Another survey participant noted “we are very busy — too busy” and several said hiring staff is difficult at the moment.
Not all IT respondents were so upbeat, however. One, who works in the field of accounting software for small-to medium-sized businesses, noted “liquidity is very tight in the marketplace. Although companies are looking at efficiencies in their administration and financial reporting, on the whole the market is making do with present resources and [is] not prepared to invest in improving these efficiencies and productivity in view of uncertainty in the marketplace.
“Four weeks annual leave cost, higher interest costs and KiwiSaver [are] more additional burden on small to medium business which many cannot afford.”
Overall, 24.8% of respondents thought the economy will get better in the next year, 36% think it will get worse and 39.2% predict it will stay the same.
There were 222 respondents.