Confidence at a 16 month high
Our latest BNZ Confidence Survey has found a lift in confidence about the state of the NZ economy in a year’s time to a net 38% optimistic.
This is up from a net 20% optimistic in the October survey and the highest result since July 2011.
In residential real estate a property shortage remains the dominant theme, and many businesses in other sectors are increasingly confident that the Christchurch rebuild is imminent and that their activity levels will firm.
The results make a strong case for no cut in the official cash rate by the Reserve Bank and will contribute to continued strength in the NZ dollar over the next few years.