BNZ Confidence Survey results

Attached are the results of our BNZ Confidence Survey sent out to recipients of the Weekly Overview last Thursday night. The results reveal a sharp bounce up in sentiment about where the economy will be in a year's time to a net 14% optimistic from 21% pessimistic last month as respondents were digesting the shock of the February 22 earthquake in Christchurch.

This recovery is a welcome and reassuring development because it suggests we will soon see improved business investment and hiring and deliver the expected improvement in economic growth we are forecasting for later this year. Some sectors however remain decidedly pessimistic notably retailing and manufacturing for the domestic market, some are improving residential real estate ? and some are already strong agriculture and forestry.

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