New Zealand: Business confidence rises in April
April 30, 2012
According to the April business confidence indicator published by the National Bank of New Zealand (NBNZ), a net 35.8% of respondents to the survey expect better economic conditions for the next 12 months. The print was up 2.0 points over the March reading. As a result of the April increase, the index moved further above the 0-point threshold, which indicates that optimistic respondents outnumber pessimists. The improvement reflected an increase in confidence in the retail and services sectors. In addition, businesses' own activity expectations remained strong in April. The reading suggests that more businesses are expecting an improvement in their own activity in the next 12 months. Moreover, the April survey displayed that firms' investment intentions improved over the previous month, with a net 18.0% of respondents expecting better conditions for investing in buildings, plants and machinery over the next 12 months.
Author: Ricardo Aceves, Senior Economist