New Zealand: Business confidence improves in November
November 29, 2015
Confidence among businesses improved in November, according to the ANZ Bank Business Outlook which reported that a net 14.6% of businesses surveyed expected better economic conditions in the coming 12 months, which was above the 10.5% surveyed in the previous report. As a result, business confidence, which is now further above the 0% threshold that separates optimism from pessimism, reached a six-month high.
According to ANZ, business confidence increased in half of the 14 categories that comprise the index. Firms’ expectations for their own activity, which is an even better predictor of economic activity, increased from 23.7 points in October to 32.0 points in November. While the agricultural sector remained the most pessimistic, a healthy service sector had a significant impact on the overall business climate. ANZ highlighted that, “after a half-year hiatus, it’s pretty clear the economy is starting to pick up again.”
Author: Eric Denis , Economist