Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


NBNZ Business Confidence (March)

Data Flash (New Zealand)

NBNZ Business Confidence (March)

Key points

Headline business confidence was broadly unchanged at +30 (net respondents) in March compared with +31 in February. However, in seasonally adjusted terms, confidence rose to +25 from +15 last month. Confidence appears strongest in the service sector of the economy.

Firms' assessment of their own activity prospects rose a further 3 points to +41 (to +34 in seasonally adjusted terms). The level of this index is consistent with economic growth of between 3 to 4% over the next year. Most of the other real economic activity indicators captured in the survey also improved. Reflecting negative global economic news, export prospects declined 4 points from +41 to +37 but the level of the index remains very high, at least in part reflecting the offsetting impact of a very stimulatory real exchange rate.

Pricing intentions and inflation expectations were little changed from last month and are still at levels that suggest significant further price pressure over the next 12 months, particularly in the retail sector.

Comment

The latest NBNZ survey, coming on top of yesterday's bullish WestpacTrust consumer confidence survey, further highlights the divergence in current economic fortunes in New Zealand versus those abroad. We would be surprised if the global slowdown did not moderate domestic confidence levels to some degree over coming months. However, we remain of the view that the New Zealand economy is well placed to grow at or around potential growth levels (which we assess as being no higher than 2.5%p.a.). Thus we anticipate only one further easing by the RBNZ in the current cycle - a 25bp cut in May.

Darren Gibbs, Senior Economist, New Zealand

This, along with an extensive range of other publications, is available on our web site http://research.gm.db.com

In order to read our research you will require the Adobe Acrobat Reader which can be obtained from their website http://www.adobe.com for free.

If you would like to be removed from our mailing lists please contact your usual Deutsche Bank representative.

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Onetai Station: Overseas Investment Office Puts Ceol & Muir On Notice

The Overseas Investment Office (OIO) has issued a formal warning to Ceol & Muir and its owners, Argentinian brothers Rafael and Federico Grozovsky, for failing to provide complete and accurate information when they applied to buy Onetai Station in 2013. More>>

ALSO:

Tomorrow, The UN: Feds President Takes Reins At World Farming Body

Federated Farmers president Dr William Rolleston has been appointed acting president of the World Farmers’ Organisation (WFO) at a meeting in Geneva overnight. More>>

ALSO:

I Sing The Highway Electric: Charge Net NZ To Connect New Zealand

BMW is turning Middle Earth electric after today announcing a substantial contribution to the charging network Charge Net NZ. This landmark partnership will enable Kiwis to drive their electric vehicles (EVs) right across New Zealand through the installation of a fast charging highway stretching from Kaitaia to Invercargill. More>>

ALSO:

Watch This Space: Mahia Rocket Lab Launch Site Officially Opened

Economic Development Minster Steven Joyce today opened New Zealand’s first orbital launch site, Rocket Lab Launch Complex 1, on the Mahia Peninsula on the North Island’s east coast. More>>

Earlier:

Marketing Rocks!
Ig Nobel Award Winners Assess The Personality Of Rocks

A Massey University marketing lecturer has received the 2016 Ig Nobel Prize for economics for a research project that asked university students to describe the “brand personalities” of three rocks. More>>

ALSO:

Nurofen Promotion: Reckitt Benckiser To Plead Guilty To Misleading Ads

Reckitt Benckiser (New Zealand) intends to plead guilty to charges of misleading consumers over the way it promoted a range of Nurofen products, the Commerce Commission says. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news