New Zealand Business Confidence

New Zealand

Business confidence recovers somewhat in July

According to the July business confidence indicator published by the National Bank of New Zealand (NBNZ), a net 15.1% of respondents to the survey expected better economic conditions in the next 12 months. The result was slightly up from the 12.6% of respondents to the June survey, when the index recorded the lowest sentiment level recorded since March 2011. The index remains above the 0-point threshold, which indicates that optimistic respondents outnumber pessimists. The July rise reflected improvements in the retail, manufacturing and agricultural sectors. Meanwhile, according to the Bank, firms expectations regarding their own activity showed a marginal improvement compared to the previous month. Nonetheless, the Bank acknowledges that businesses own expectations are still below average. Moreover, firms' investment expectations edged up over the previous month, but fewer businesses expect higher profits in the year ahead.

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New Zealand Business Confidence Chart

New Zealand Business Confidence July 2012

Note: Percentage of respondents expecting improvement in general business conditions minus percentage expecting deterioration. An index number above 0 indicates that optimists outnumber pessimists, while a number under 0 indicates more pessimists than optimists. The survey is not conducted in January.
Source: National Bank of New Zealand.

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