ANZ NZ Managing Director Commercial & Agri Mark Hiddleston said the report was developed to examine the pandemic’s impact on consumer spend and the local business sector, and project potential earnings for some of New Zealand's key industries for the second half of 2020.
“Wage subsidies, rental relief and other factors have provided a buffer against some of the immediate impacts of Covid-19. However, that buffer is limited,” Mr Hiddleston said.
“Businesses should be planning for life after the support packages end, including the consideration that New Zealand may still move up and down Alert Levels."
“The best-laid plan has to adjust and adapt. It must have support from customers, suppliers and other stakeholders."
“The next few months will continue to be challenging. In New Zealand, we have a lot more certainty than other countries and opportunities will arise – the trick is to make sure we are in a position to see and take advantage of them.”