New Zealand Business Confidence

New Zealand

New Zealand: Business confidence partially recovers in September

September 29, 2015

Confidence among businesses partially recovered in September, according to the ANZ Bank Business Outlook that reported that a net 18.9% of businesses surveyed expected worse economic conditions in the coming 12 months. The figure was above August’s 29.1% of respondents expecting worse economic conditions. As a result, business confidence moved closer to the 0% threshold that separates optimism from pessimism.

According to ANZ, business confidence increased in all of the 14 categories that comprise the index, with the exception of the unemployment rate. Firms’ expectations for their own activity, which is an even better predictor of economic activity, increased from 12.2 points in August to 16.7 points in September. The agricultural sector remained among the most pessimistic, as a consequence of low dairy prices. ANZ highlighted that, “after five successive months of declines in the headline figure – and substantial declines at that – the turnaround is welcome.”

FocusEconomics Consensus Forecasts panelists expect fixed investment to grow 3.5% in 2015, which is down 0.4 percentage points from last month’s estimate. For 2016, the panel sees fixed investment slowing to 4.3%.

Author:, Economist

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New Zealand Business Confidence Chart

New Zealand Business Confidence September 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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