Attached please find the results of our latest Confidence Survey. The Survey has revealed that late last week only a net 0.9% of respondents felt the economy will deteriorate over the coming year. This is the fourth month in a row of improvement, is a sharp gain from -73.3% a year ago, and the best result since our survey started in February 2005.
Interesting points which we have picked up from the industry comments include the following.
· Listings shortages in residential real estate with good activity levels and mild price pressure.
· High caution in the farming sector and those supplying equipment to farmers.
· Advertising looking weaker than usual.
· Architects very busy.
· Finance activity easing off gradually.
· As one would expect the high NZD is causing problems for exporters in general.
· Transport firm but as with many industries margins are tight.