New Zealand Business Confidence September 2016

New Zealand

New Zealand: Business confidence soars to over-one-year high in September

September 30, 2016

Economic sentiment among New Zealand businesses rebounded in September after declining for two consecutive months. The ANZ Bank Business Outlook indicator showed that a net 27.9% of surveyed firms expected better economic conditions in the next 12 months, which was above than the 15.5% increase recorded in August and marks the highest print in 17 months. This pushed the business confidence indicator further above the 0% threshold that separates optimists from pessimists.

According to ANZ, nearly half of all businesses surveyed expect economic conditions to improve, the highest result in over two years. Firms reported strong intentions to increase staffing and although the reading for investment intentions eased, it remained above its long-term average. Exports intentions lifted strongly in spite of a strong NZD and businesses expect profits to increase notably. Confidence in all five sub-sectors that compose the index rose in September with services recording the highest print.

FocusEconomics Consensus Forecasts panelists expect fixed investment to grow 4.4% in 2016, which is up 0.7 percentage points from last month’s estimate. For 2017, the panel sees fixed investment accelerating to 4.2%.


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New Zealand Business Confidence Chart

New Zealand Business Confidence September 2016 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.

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