New Zealand Business Confidence February 2016

New Zealand

New Zealand: Business confidence falls in February

February 26, 2016

Confidence among businesses fell in February, according to the ANZ Bank Business Outlook, which reported that a net 7.1% of businesses surveyed expected better economic conditions in the coming 12 months, which was well below the 34.4% surveyed in the previous report. As a result, business confidence, which is now resting close to the 0% threshold that separates optimism from pessimism, reached a five-month low.

According to ANZ, business confidence decreased in 12 of the 14 categories that comprise the index. Firms’ expectations for their own activity, which is an even better predictor of economic activity, decreased from 34.4 points in November to 25.5 points in February. The agricultural sector remained the most pessimistic as a consequence of sustained low dairy prices.

FocusEconomics Consensus Forecasts panelists expect fixed investment to grow 3.5% in 2016, which is down 0.4 percentage points from last month’s estimate. For 2017, the panel sees fixed investment slowing to 4.3%.

Author:, Economist

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New Zealand Business Confidence Chart

New Zealand Business Confidence February 2016

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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