New Zealand Business Confidence

New Zealand

Businesses turn less optimistic in December

According to the December business confidence index published by ANZ, a net 22.7% of respondents to the survey expect better economic prospects in the next 12 months. The figure was below the 26.4% of respondents observed in the November survey. Despite the drop, the index remains well above the 0-point threshold, which indicates that optimists outnumber pessimists.

According to ANZ, business confidence improved in the retailing and manufacturing sectors, but deteriorated in agriculture, construction and services. Meanwhile, firms' own activity expectations - a better predictor for economic activity - remained virtually unchanged compared to the previous month. On the downside, firms' investment expectations in the year ahead dropped over the previous month.

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New Zealand Business Confidence Chart

New Zealand Business Confidence December 2013

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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