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New Zealand Business Confidence September 2023

New Zealand: Business sentiment improves further in September

The ANZ bank business outlook indicator rose in September. A net 1.5% of firms reported that they expect general business conditions to improve in the year ahead, improving from a net 3.7% of firms expecting bleaker general business conditions in the year ahead in August. As a result, the headline moved above the net-0% threshold that separates optimism from pessimism among businesses.

Businesses grew less downbeat with regards to profit expectations. Moreover, inflation expectations moderated.

Meanwhile, firms’ outlooks regarding their own activity—a metric which has a stronger correlation to GDP growth—dipped to a net 10.9% in September from a net 11.2% in August.

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