New Zealand Business Confidence

New Zealand

New Zealand: Business confidence drops to six-month low

April 29, 2015

Confidence among businesses declined in April, according to the ANZ Bank Business Outlook, which reported that a net 30.2% of businesses surveyed expected better economic conditions in the coming 12 months. The result, which came in below March’s 35.8%, represented the weakest reading since October 2014. However, business confidence remains comfortably above the 0% threshold that separates optimism from pessimism.

According to ANZ, business confidence decreased in 8 of the 14 categories that compose the index. Firms’ expectations for their own activity, which is an even better predictor of economic activity, inched down from 42.2 points in March to 41.3 points in April. According to ANZ, April’s print indicates that, “[b]usiness confidence and firms’ signals on the employment, investment and activity fronts continue to oscillate, as opposed to trend.”

FocusEconomics Consensus Forecasts panelists expect fixed investment to grow 7.4% in 2015, which is up 0.1 percentage points from last month’s estimate. For 2016, the panel sees fixed investment slowing to 4.7%.

Author:, Economist

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New Zealand Business Confidence Chart

New Zealand Business Confidence April 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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