New Zealand Business Confidence

New Zealand

Business confidence improves in November

Confidence among businesses improved in November, according to the ANZ Bank Business Outlook which reported that a net 14.6% of businesses surveyed expected better economic conditions in the coming 12 months, which was above the 10.5% surveyed in the previous report. As a result, business confidence, which is now further above the 0% threshold that separates optimism from pessimism, reached a six-month high.

According to ANZ, business confidence increased in half of the 14 categories that comprise the index. Firms’ expectations for their own activity, which is an even better predictor of economic activity, increased from 23.7 points in October to 32.0 points in November. While the agricultural sector remained the most pessimistic, a healthy service sector had a significant impact on the overall business climate. ANZ highlighted that, “after a half-year hiatus, it’s pretty clear the economy is starting to pick up again.”

FocusEconomics Consensus Forecasts panelists expect fixed investment to grow 3.5% in 2015, which is down 0.4 percentage points from last month’s estimate. For 2016, the panel sees fixed investment slowing to 4.3%.

Author:, Economist

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New Zealand Business Confidence Chart

New Zealand Business Confidence November 2015

Note: Percentage of respondents expecting improvement in general business conditions minus percentage expecting deterioration. An index number above 0 indicates that optimists outnumber pessimists. The survey is not conducted in January.
Source: ANZ Bank Business Outlook.

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