New Zealand business confidence jumps again, says survey
WELLINGTON, Sept 30 (Reuters) -New Zealand's business confidence jumped again in September, highlighting the risk that the economy’s response to lower interest rates could be more vigorous than is generally expected, ANZ Bank said in a note on Monday.
The ANZ survey's headline measure showed a net 60.9% of respondents expected the economy to improve over the year ahead, versus a 50.6% optimism level in the previous poll in August.
A net 45.3% of respondents expected their own businesses to grow in the next 12 months versus 37.1% last month.
“Markets in particular are focused on downside risks, but this month’s survey showed not only that optimism about the future continues to grow, but also the first signs of improvement in current activity," ANZ Chief Economist Sharon Zollner said in a statement.
She added it highlights the risk that the economy could response more strongly to lower interest rates than expected.
Reporting by Lucy Craymer; Editing by Kim Coghill
Latest News
Disclaimer: The XM Group entities provide execution-only service and access to our Online Trading Facility, permitting a person to view and/or use the content available on or via the website, is not intended to change or expand on this, nor does it change or expand on this. Such access and use are always subject to: (i) Terms and Conditions; (ii) Risk Warnings; and (iii) Full Disclaimer. Such content is therefore provided as no more than general information. Particularly, please be aware that the contents of our Online Trading Facility are neither a solicitation, nor an offer to enter any transactions on the financial markets. Trading on any financial market involves a significant level of risk to your capital.
All material published on our Online Trading Facility is intended for educational/informational purposes only, and does not contain – nor should it be considered as containing – financial, investment tax or trading advice and recommendations; or a record of our trading prices; or an offer of, or solicitation for, a transaction in any financial instruments; or unsolicited financial promotions to you.
Any third-party content, as well as content prepared by XM, such as: opinions, news, research, analyses, prices and other information or links to third-party sites contained on this website are provided on an “as-is” basis, as general market commentary, and do not constitute investment advice. To the extent that any content is construed as investment research, you must note and accept that the content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, it would be considered as marketing communication under the relevant laws and regulations. Please ensure that you have read and understood our Notification on Non-Independent Investment. Research and Risk Warning concerning the foregoing information, which can be accessed here.
