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

 


NZ business confidence rises to near 15-year high

NZ business confidence rises to near 15-year high on surge in retailers’ sentiment

Nov. 28 (BusinessDesk) - New Zealand business confidence rose to near a 15-year high this month, led by a surge in sentiment among retailers and a happier agricultural sector. Expectations for hiring, investments, activity and pricing all rose.

A net 60.5 percent of firms expect general business conditions to improve in the year ahead, up from 53.2 percent last month, according to the ANZ Business Outlook survey. Firms seeing a pickup in their own business activity in the year ahead held unchanged at 47.1 percent.

ANZ’s composite indicator of business and consumer confidence is indicating potential for annual economic growth to accelerate to 5 percent by mid-2014. ANZ chief economist Cameron Bagrie said that was ‘pie-in-the-sky stuff though “we agree with the spirit of strong growth ahead.”

With the peak Christmas-New Year spending season looming into view, retailers emerged as the most confident group this month, with a net 69.5 percent upbeat about the year ahead, up from 48 percent in October.

In agriculture, which is the laggard in the survey, confidence rose to 51.2 percent from 46.3 percent and their view of their own activity improved to a still-weak 39.1 percent from 23.8 percent.

Agriculture was overtaken by construction, with general confidence rebounding to 60 percent from 40.7 percent, which its own activity measure of confidence rose to 45.7 percent from 44.5 percent.

Manufacturing improved to 52.7 percent with an own activity reading of 48.6 percent and services remained bullish at 64.6 percent being upbeat about the general economy, from 64.5 percent a month earlier, while own activity fell to 49.4 percent from 52 percent.

Profit expectations improved to 37.3 percent from 28.9 percent and a net 25.3 percent of firms expect to raise prices in the coming year, up from 22 percent in October.

Export intentions rose to 30.8 percent from 26.9 percent while investment intentions improved to 22.3 percent from 18.8 percent.

Inflation expectations edged up to 2.43 percent from 2.38 percent and hiring intentions climbed to 23 percent from 18.7 percent.

(BusinessDesk)

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Cosmetics & Pollution: Proposal To Ban Microbeads

Cosmetic products containing microbeads will be banned under a proposal announced by the Minister for the Environment today. Marine scientists have been advocating for a ban on the microplastics, which have been found to quickly enter waterways and harm marine life. More>>

ALSO:

NIWA: 2016 New Zealand’s Warmest Year On Record

Annual temperatures were above average (0.51°C to 1.20°C above the annual average) throughout the country, with very few locations observing near average temperatures (within 0.5°C of the annual average) or lower. The year 2016 was the warmest on record for New Zealand, based on NIWA’s seven-station series which begins in 1909. More>>

ALSO:

Farewell 2016: NZ Economy Flies Through 2016's Political Curveballs

Dec. 23 (BusinessDesk) - New Zealand's economy batted away some curly political curveballs of 2016 to end the year on a high note, with its twin planks of a booming construction sector and rampant tourism soon to be joined by a resurgent dairy industry. More>>

ALSO:


NZ Economy: More Growth Than Expected In 3rd Qtr

Dec. 22 (BusinessDesk) - New Zealand's economy grew at a faster pace than expected in the September quarter as a booming construction sector continued to underpin activity, spilling over into related building services, and was bolstered by tourism and transport ... More>>

  • NZ Govt - Solid growth for NZ despite fragile world economy
  • NZ Council of Trade Unions - Government needs to ensure economy raises living standards
  • KiwiRail Goes Deisel: Cans electric trains on partially electrified North Island trunkline

    Dec. 21 (BusinessDesk) – KiwiRail, the state-owned rail and freight operator, said a small fleet of electric trains on New Zealand’s North Island would be phased out over the next two years and replaced with diesel locomotives. More>>

  • KiwiRail - KiwiRail announces fleet decision on North Island line
  • Greens - Ditching electric trains massive step backwards
  • Labour - Bill English turns ‘Think Big’ into ‘Think Backwards’
  • First Union - Train drivers condemn KiwiRail’s return to “dirty diesel”
  • NZ First - KiwiRail Going Backwards for Xmas
  • NIWA: The Year's Top Science Findings

    Since 1972 NIWA has operated a Clean Air Monitoring Station at Baring Head, near Wellington... In June, Baring Head’s carbon dioxide readings officially passed 400 parts per million (ppm), a level last reached more than three million years ago. More>>

    ALSO:

    Get More From Scoop

     
     
     
     
     
     
     
     
    Business
    Search Scoop  
     
     
    Powered by Vodafone
    NZ independent news