New Zealand skyline

New Zealand Economic Sentiment September 2022

New Zealand: Business confidence gains further ground in September

The ANZ bank business outlook indicator rose again in September. As a consequence, a net 36.7% of firms reported that they expect general business conditions to worsen in the year ahead, improving from a net 47.8% of firms expecting bleaker general business conditions in the year ahead in August. As a result, the headline remained below the net-0% threshold that separates pessimism from optimism among businesses.

Business grew less downbeat with regards to ease of credit, while they turned optimistic regarding investment intentions and commercial construction.

Meanwhile, firms’ outlooks regarding their own activity—a metric which has a stronger correlation to GDP growth—increased to a net minus 1.8% in September from a net minus 4.0% in August.

Commenting on the release, Sharon Zollner, chief economist at ANZ, stated:

“The New Zealand economy is at a delicate juncture. It’s fair to say that demand has not yet rolled over as feared as the Reserve Bank has raised interest rates. But insofar as the RBNZ can just keep on going until they see the cooling in demand they need to tame inflation, that’s likely to be a temporary reprieve, if not an outright double-edged sword for firms that have considerable debt.”

Free sample report

Access essential information in the shortest time possible. FocusEconomics provide hundreds of consensus forecast reports from the most reputable economic research authorities in the world.
Close Left Media Arrows Left Media Circles Right Media Arrows Right Media Circles Arrow Quote Wave Address Email Telephone Man in front of screen with line chart Document with bar chart and magnifying glass Application window with bar chart Target with arrow Line Chart Stopwatch Globe with arrows Document with bar chart in front of screen Bar chart with magnifying glass and dollar sign Lightbulb Document with bookmark Laptop with download icon Calendar Icon Nav Menu Arrow Arrow Right Long Icon Arrow Right Icon Chevron Right Icon Chevron Left Icon Briefcase Icon Linkedin In Icon Full Linkedin Icon Filter Facebook Linkedin Twitter Pinterest