According to the September business confidence indicator published by the National Bank of New Zealand (NBNZ), a net 17.0% of respondents to the survey expect better economic conditions in the next 12 months. The result was down from the 19.5% of respondents in the August survey and represents the first decline in confidence in three months. The index, nonetheless, remains above the 0-point threshold that indicates optimists outnumber pessimists. According to the Bank, business confidence declined in the agriculture, construction and services sectors. Moreover, while firms' own activity expectations - a better indicator for economic activity - continue to rise, businesses were less optimistic about their investment expectations in the year ahead.
New Zealand Business Confidence
Business confidence slips in September
September 27, 2012
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New Zealand Business Confidence Chart
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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