Business Confidence in New Zealand
ANZ Business Confidence (New Zealand)
Declining Trend for the Business Confidence in New Zealand
Starts Wednesday, September 26, 2018 at 01:00
Updated Monday, September 24, 2018
This is a leading indicator of economic health since businesses react quickly to market conditions, and changes in their sentiment can be an early signal of future economic activity such as spending, hiring, investment, etc. The business confidence used to be pretty high in New Zealand last year but it started turning negative at the end of 2017 and the trend has been deteriorating this year. The current global trade tariffs and other major events have deteriorated the global business sentiment which has affected New Zealand as well and this month is not expected to be any different. Last month it declined to -50.3 points, which is pretty bad.
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About ANZ Business Confidence (New Zealand)
This is a diffusion index which takes into account surveyed manufacturers, builders, retailers, agricultural firms, and service providers. It is a broad measure of the New Zealand economy since it takes into account all the sectors and the insight from the managers is probably the best you van get about any economy since they hold the best knowledge of economic trends in their sectors/industries.
|It is released on a monthly basis at the end of the current month, which makes it a pretty up to date indicator. Above 0.0 indicates optimism, below indicates pessimism.|