BNZ: Business confidence hits a six month high
For the third month in a row business sentiment about where the economy will be in a year’s time has improved. A net 27% of respondents in our monthly survey feel optimistic compared with 13% in February and a recent low of a net 2% feeling pessimistic in early November. The improvement in sentiment is suggestive of improving growth in the economy. However it should be noted that last year when sentiment was at higher levels jobs growth was minimal and it is difficult to know when good sentiment will translate through into actual investment and hiring.