BNZ's Confidence Survey Notes Another Rise

BNZ's Confidence Survey Notes Another Rise

BNZ Confidence Survey has found a further rise in sentiment about where the economy will be in a year?s time ? this time to a record level of a net 57% positive from 42% in May. However although in some sectors such as agriculture sentiment is overwhelmingly positive, and others like accountancy and non-residential real estate are improving, the overall tone of anecdotes submitted remains very cautious.

Given the Reserve Bank?s stated desire to rely upon real data, presumably rather than sentiment measures, when making their policy decisions, the fact that sentiment has soared does not automatically translate into a heightened chance yet of an early tightening of monetary policy. That however is where the risks lie ? dependent upon developments offshore which in recent weeks have turned for the worse again.

http://img.scoop.co.nz/media/pdfs/1106/BNZConfidenceResults_June_6.pdf

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