New Zealand Business Confidence May 2019

New Zealand

New Zealand: Business confidence rises in May but remains in pessimistic territory

May 30, 2019

The ANZ bank business outlook indicator rose by 5.5 points in May, with a net 32.0% firms reporting that they expect general business conditions to deteriorate this year. The headline reading remained firmly below the net-0% threshold that separates pessimism from optimism among businesses. May’s result largely reflected an improved outlook in the construction sector, after the government scrapped its proposed capital gains tax on 17 April.

Meanwhile, firms’ positive outlook regarding their own activity—a metric which has a stronger correlation to GDP growth—ticked up to a net 8.5% in May, after reporting a net 7.1% in April. Notably, the activity outlook for the manufacturing and construction sectors improved from the previous month.

FocusEconomics Consensus Forecast panelists expect fixed investment to grow 2.5% in 2019, which is down 0.3 percentage points from last month’s forecast, and 3.0% in 2020.


Author:, Economist

Sample Report

Looking for forecasts related to Business Confidence in New Zealand? Download a sample report now.

Download

New Zealand Business Confidence Chart


New Zealand Business Confidence May 2019 0

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.


New Zealand Economic News

More news

Search form