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Business Confidence Hits a Record High

Business Confidence Hits a Record High

The 763 respondents to our latest BNZ Confidence Survey express record confidence about the state of the NZ economy in a year's time.

Welcome to the late-July BNZ Confidence Survey results
A full pdf copy of the survey is attached and loaded here.

New subscribers can be added to the emailing list here.
Our monthly survey elicited 763 responses last week and a record net 59% of respondees expect that the NZ economy will be in better shape in a year’s time than it is now. This result is consistent with other less up to date measures showing very positive business sentiment. Some key themes include worsening shortages of labour and a still deepening shortage of residential real estate listings.

Do you personally feel happy or unhappy that house prices are rising?
While policy-makers and buyers fret about house prices rising the bulk of people on average appear increasingly happy with the situation. A net 17% of the 763 respondents in our survey say that they are happy that house prices are rising.

Are you relaxed or concerned about New Zealand's rising economic relationship with China?
It is quite interesting to see that for three surveys in a row now the net percent of people feeling relaxed about our growing economic relationship with China has sat at 44%.

Are you thinking about borrowing more money for your business in the next three months?
While growth in the economy appears to be picking up and the Reserve Bank are laying the groundwork for a tightening of monetary policy, our survey shows that credit demand as such is not shooting upward. The gross proportion of our 763 respondents who say that they are thinking about borrowing more money for their business in the next three months has fallen to 21% from 27% in June and 28% in May.

The BNZ Confidence Survey is one of a suite of six publications.
The quarterly Growing With China issues are here.
The quarterly Brain Gain NZ can be located here.
The Weekly Overviews are loaded here.
The monthly BNZ-REINZ Residential Market Surveys are posted here.
The monthly BNZ Confidence Surveys are available here.
The monthly BNZ-Nine Rewards Consumer Trends Survey is here.

All the best

Tony Alexander
Chief Economist
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