New Zealand skyline

New Zealand Economic Sentiment August 2022

New Zealand: Business confidence gains some ground in August

The ANZ bank business outlook indicator rose in August. As a consequence, a net 47.8% of firms reported that they expect general business conditions to worsen in the year ahead, improving from a net 56.7% of firms expecting bleaker general business conditions in the year ahead in July. 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, 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 4.0% in August from a net minus 8.7% in July.

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

“New Zealand businesses are well aware that the Reserve Bank is on a mission to cool demand to bring it back into line with – indeed, below – the economy’s ability to meet it, in order to reduce inflation. In that context, while mildly rebounding activity indicators are ostensibly good news, today’s survey was not particularly encouraging for the RBNZ.”

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