New Zealand Business Confidence

New Zealand

New Zealand: Business confidence rebounds in October

October 29, 2015

Confidence among businesses rebounded in October, according to the ANZ Bank Business Outlook reporting that a net 10.5% of businesses surveyed expected better economic conditions in the coming 12 months. The figure contrasted September’s 18.9% of respondents expecting worse economic conditions. As a result, business confidence jumped above the 0% threshold that separates optimism from pessimism and reached a five-month high.

According to ANZ, business confidence increased in all 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 16.7 points in September to 23.7 points in October. While the agricultural sector remained among the most pessimistic, a rebound in dairy prices had a significant impact on overall business climate. ANZ highlighted that, “dairy prices are about 50% above their early August lows. Prospects for the 2015/16 dairy payout still look poor, but not as bad as they did a couple of months ago.”

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 October 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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