New Zealand Business Confidence

New Zealand

New Zealand: Business confidence jumps up in December

December 29, 2015

Confidence among businesses improved in December, according to the ANZ Bank Business Outlook, which reported that a net 23.0% of businesses surveyed expected better economic conditions in the coming 12 months, which was well above the 14.6% surveyed in the previous report. As a result, business confidence, which is now further above the 0% threshold that separates optimism from pessimism, reached an eight-month high.

According to ANZ, business confidence increased in 10 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 32.0 points in November to 34.4 points in December. 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 December 2015

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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