New Zealand: Business confidence jumps up in December
December 29, 2015
Confidence among businesses improved in December, according to the ANZ Bank Business Outlook, which reported that a net 23.0% of businesses surveyed expected better economic conditions in the coming 12 months, which was well above the 14.6% surveyed in the previous report. As a result, business confidence, which is now further above the 0% threshold that separates optimism from pessimism, reached an eight-month high.
According to ANZ, business confidence increased in 11 of the 14 categories that comprise the index. Firms’ expectations for their own activity, which is an even better predictor of economic activity, increased from 32.0 points in November to 34.4 points in December. The agricultural sector remained the most pessimistic as a consequence of sustained low dairy prices.
Author: Eric Denis , Economist