Business sentiment in New Zealand improved during the month of September, following rising expectations of a wider economic growth with employment and profit intentions rising as well.
A net 27.9 percent of firms were optimistic about the general economic outlook over the coming year, up from a net 15.5 percent in August, data released by the ANZ Business Outlook showed Friday. A net 42.4 percent of companies see their own activity expanding, compared to a net 33.7 percent a month earlier.
Further, increased profits were expected by a net 34.4 percent of the 413 respondents compared to a net 22.2 percent in August, while a net 25.3 percent are expecting to hire more staff in the year ahead, up from 19.2 percent a month earlier.
In addition, Construction expectations were strong, with a net 41 percent of respondents expecting more residential construction in the year ahead, up from a net 36.4 percent in August, while a net 27.3 percent were optimistic about the commercial construction sector's outlook, compared to 23.8 percent a month earlier.
A net 13 percent of respondents see an expansion in livestock investment, compared to a net 11.6 percent expecting a contraction a month earlier. Businesses thought it was easier to get credit in September, with a net 8.7 percent finding it hard, from a net 14.3 percent in August, the data showed.
However, despite the rise in business optimism, a dwindling economic performance amid a strong inbound migration has grounded consumer sentiments while a recovery in global milk prices has eased concerns about the health of rural New Zealand.
"The economy remains odds-on to put in another good year. Our confidence composite indicator, which combines both business and consumer sentiment, is pointing to GDP growth accelerating from its current pace of 3.5 percent. The New Zealand economy remains a furlong out in front of most developed-nation peers," said Cameron Bagrie, New Zealand Chief Economist, ANZ.


Japan Exports to U.S. Rebound in November as Tariff Impact Eases, Boosting BOJ Rate Hike Expectations
EU Approves €90 Billion Ukraine Aid as Frozen Russian Asset Plan Stalls
Kevin Hassett Says Inflation Is Below Target, Backs Trump’s Call for Rate Cuts
U.S. Dollar Steadies Near October Lows as Rate Cut Expectations Keep Markets on Edge
Canada Signals Delay in US Tariff Deal as Talks Shift to USMCA Review
U.S. Stock Futures Edge Higher as Micron Earnings Boost AI Sentiment Ahead of CPI Data
Gold and Silver Surge as Safe Haven Demand Rises on U.S. Economic Uncertainty
U.S. Stocks End Week Higher as Tech Rally Offsets Consumer Weakness
Oil Prices Climb on Venezuela Blockade, Russia Sanctions Fears, and Supply Risks
U.S. Stock Futures Slip After CPI-Fueled Rally as Markets Weigh Economic Uncertainty
BoE Set to Cut Rates as UK Inflation Slows, but Further Easing Likely Limited
EU Delays Mercosur Free Trade Agreement Signing Amid Ukraine War Funding Talks
Trump Defends Economic Record in North Carolina as Midterm Election Pressure Mounts
Asian Stocks Slide as AI Spending Fears and Global Central Bank Decisions Weigh on Markets
Austan Goolsbee Signals Potential for More Fed Rate Cuts as Inflation Shows Improvement 



