New Zealand: Business confidence slips in September
September 27, 2012
According to the September business confidence indicator published by the National Bank of New Zealand (NBNZ), a net 17.0% of respondents to the survey expect better economic conditions in the next 12 months. The result was down from the 19.5% of respondents in the August survey and represents the first decline in confidence in three months. The index, nonetheless, remains above the 0-point threshold that indicates optimists outnumber pessimists. According to the Bank, business confidence declined in the agriculture, construction and services sectors. Moreover, while firms' own activity expectations - a better indicator for economic activity - continue to rise, businesses were less optimistic about their investment expectations in the year ahead.
Author: Ricardo Aceves, Senior Economist