ANZ Business Confidence (New Zealand)
Event Date: Thursday, March 30, 2023
Event Time: 01:00 CET
Business Confidence Remains Deeply Negative
Updated Sunday, March 26, 2023
The business confidence in New Zealand started turning negative at the end of 2017 and the trend deteriorated further last year when it declined to -50.3 points in August. The current global trade tariffs and other major events have deteriorated the global business sentiment, which has affected New Zealand. Although business confidence improved in the last several months of 2018, it still closed the year negative at -24.1 points as December's report showed. But, in February we saw another deterioration as this indicator fell to -30.9 points again. In March, the consumer confidence deteriorated further to -38.0 points and it remained at the same levels in April at -37.5 points. It improved a bit in May to -32 points but deteriorated further to -44.3 points in July and to -53.5 points. In October, business confidence improved to -42.4 points and in October it improved further to 26.4 points, while December came at -13.4 points. But, last month the confidence worsened again, falling to -19.4 points, but things go worse with coronavirus and in April this indicator came at -73.1 points, while it May it came at -41.8 points. In February the sentiment fell to -43.3 points. Please follow us for live coverage of this event by experienced market analysts.
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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.|
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