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

 

New Zealand: business confidence falls in December

[See full release with chart: NBNZ_bus_confidence_Dec.pdf]

New Zealand: business confidence falls in December

The NBNZ business confidence survey fell in December, with the headline index dropping to -24.9% (net respondents expecting conditions to deteriorate over the coming year) from -19.6% previously. Business confidence appears to be suffering under the still-elevated NZD, growing concerns over the outlook for global growth, and surging oil prices. On the upside, the index of firms’ own activity expectations rebounded to 18.2% from 15.7%. Still, the December survey confirms the NZ economy is cooling. JPMorgan forecasts GDP growth of 0.5%q/q in 3Q, down from 0.7% in 2Q. Third quarter GDP data is scheduled for release on Friday.

Over the next 12 months:

* A net 24.9% of firms expected the economy will worsen, compared to only 19.6% previously.
* A net 18.2% of firms believe business activity will rise, up from 15.7%.
* A net 17.6% of firms believe exports will rise, compared to 25.5% previously.
* A net 8.8% of firms see investment increasing, down from 14.5%.
* A net 7.0% of firms still believe livestock will increase.
* A net 14.8% of firms see capacity utilization picking up, more than the 9.5% in November.
* A net 0.0% of firms believe residential construction is worsening, up from -18.2% previously.
* A net 22.2% of firms believe commercial construction will increase, compared to 13.0% previously.


ENDS

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Scoop 3.0: How You Can Help Scoop’s Evolution

We have big plans for 2018 as we look to expand our public interest journalism coverage, upgrade our publishing infrastructure and offer even more valuable business tools to commercial users of Scoop. More>>


Statistics: Butter At Record $5.67/Block; High Vegetable Prices

Rising dairy prices have pushed food prices up 2.7 percent in the year to October 2017, Stats NZ said today. This followed a 3.0 percent increase in the year to September 2017. More>>

ALSO:

Science: New Research Finds Herbicides Cause Antibiotic Resistance

New University of Canterbury research confirms that the active ingredients of the commonly used herbicides, RoundUp, Kamba and 2,4-D (glyphosate, dicamba and 2,4-D, respectively), each alone cause antibiotic resistance at concentrations well below label application rates. More>>

ALSO:

CO2 And Water: Fonterra's Environment Plans

Federated Farmers support Fonterra’s bold push to get to zero emissions of CO2 on the manufacturing side of the Co-operative, both in New Zealand and across its global network. More>>

ALSO:

Fisheries: Decision To Delay Monitoring ‘Fatally Flawed’

Conservation group representatives say a decision by the new Minister of Fisheries, Stuart Nash, to delay implementation of camera monitoring of fishing efforts in New Zealand is ‘fatally flawed’. More>>

ALSO:

Kaikōura Quakes: One Year On

State Highway One and the railway were blocked by damage and slips and the Inland Road suffered significant damage. Farms, homes and businesses suffered building and land damage. Power and internet went down, drinking water systems, sewage systems and local roads were all badly affected... More>>

ALSO: