New Zealand Business Confidence June 2016

New Zealand

New Zealand: Business confidence improves for third consecutive month

June 30, 2016

Confidence among New Zealand firms improved for a third consecutive month in June and continued to recover from the low registered in March. According to the ANZ Bank Business Outlook indicator, in June a net 20.2% of surveyed firms expect better economic conditions in the next 12 months. The number or businesses with a more positive view in June marked an improvement over the 11.3% recorded in May. As a result, business confidence indicator went further above the 0%-threshold that separates optimists from pessimists and reached the highest level in six months.

ANZ commented that a higher number of businesses were more optimistic regarding prospects for their own businesses. ANZ said, “that’s above average and strong. This is where the campaign can be either won or lost; it’s not business sentiment itself that matters but what businesses are doing and thinking about their own business.” Furthermore, businesses’ investment intentions improved over the previous month and their profit expectations continued to rise.

FocusEconomics Consensus Forecasts panelists expect fixed investment to grow 4.2% in 2016, which is unchanged from last month’s estimate. For 2017, the panel sees fixed investment accelerating to 3.3%.

Author:, Senior Economist

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New Zealand Business Confidence Chart

New Zealand Business Confidence June 2016 3

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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