New Zealand investor confidence rallies
New Zealand investor confidence rallies, despite further market deterioration forecast for Q3
As speculation increases that New Zealand is moving into to a period of stagflation, 71% of New Zealand investors are forecasting that inflation will continue to worsen over the next three months.
This is according to the latest ING Investor Dashboard Survey release today, which highlighted that although investor confidence has rallied over the previous quarter by 9%, to 98 points out of 200, more than half of those investors surveyed (53%) remain concerned that New Zealand’s economy will continue to deteriorate during the next quarter.
Across the Asia Pacific region the survey, which tracks investor sentiment against a range of investment behaviours across 13 Asian markets*, revealed that investor confidence had slumped by 13% to an overall average of 109 in Q2 2008. The research also showed a strong decline in investor sentiment in many countries, with China and the South East Asian markets showing considerable falls.