New Zealand Business Confidence May 2016

New Zealand

New Zealand: Business confidence improves for third consecutive month

May 31, 2016

Confidence among New Zealand firms improved for a third consecutive month in May and continued to recover from the low registered in March. According to the ANZ Bank Business Outlook indicator, in May a net 11.2% of surveyed firms expect better economic conditions in the next 12 months. The number or businesses with a more positive view in May marked an improved over the 6.2% recorded in April. As a result, business confidence remained above the 0%-threshold that separates optimists from pessimists.

According to ANZ, gains were observed across the board, with construction remaining the most upbeat sector. The agricultural sector is still the sector with the weakest sentiment, as prices for dairy products are rising only timidly. Moreover, ANZ indicated that 30% of businesses remain upbeat about their own business prospects in the next 12 months.

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 accelerating to 4.3%.

Author:, Senior Economist

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New Zealand Business Confidence Chart

New Zealand Business Confidence May 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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