NZ business confidence up again
(1 March 2012 – New Zealand) A New Zealand National Bank survey has shown business confidence is perking up.
A net 28 percent of firms expect better times for the economy in 2012, up 11 points from the end of 2011.
Confidence has risen for four months in a row.
Confidence had improved as fears of a repeat of the 2008 global financial crisis failed to materialise, the US economy had improved and in New Zealand the housing market lifted, with the prospect of lower interest rates for longer, National Bank said.
The construction sector is now the most confident of an improvement after a bad run last year, when there were extremely low levels of home building.
A net 31 percent of businesses expected activity in their own business to improve in the year ahead, up 5 points on December.
Hiring intentions rose from a net 5 percent to 8 percent.
Export intentions also firmed to a net 19 percent positive.
Profit expectations also lifted slightly to a net 10 percent, though investment intentions eased back slightly to a net 11 percent positive.
Confidence has risen for four months in a row.
Confidence had improved as fears of a repeat of the 2008 global financial crisis failed to materialise, the US economy had improved and in New Zealand the housing market lifted, with the prospect of lower interest rates for longer, National Bank said.
The construction sector is now the most confident of an improvement after a bad run last year, when there were extremely low levels of home building.
A net 31 percent of businesses expected activity in their own business to improve in the year ahead, up 5 points on December.
Hiring intentions rose from a net 5 percent to 8 percent.
Export intentions also firmed to a net 19 percent positive.
Profit expectations also lifted slightly to a net 10 percent, though investment intentions eased back slightly to a net 11 percent positive.
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