New Zealand: Business confidence improves in November
November 29, 2012
According to the November business confidence index published by ANZ (previously published by the National Bank of New Zealand), a net 26.4% of respondents to the survey expect better economic conditions in the next 12 months. The figure represented an improvement compared to the 17.2% of respondents observed in the October survey. As a result, the index remains well above the 0-point threshold that indicates optimists outnumber pessimists. According to ANZ, business confidence improved in most sectors, with the exception of construction, where confidence waned somewhat over the previous month. Moreover, firms' own activity expectations - a better predictor for economic activity - improved over the previous month, with businesses also expecting improving conditions to invest in the year ahead.
Author: Ricardo Aceves, Senior Economist