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New Zealand business confidence jumps in September quarter, net 40%

NZIER said the renewed US-Iran conflict lifted fuel prices, keeping higher oil prices a headwind for NZ firms and potentially complicating inflation and rate expectations.

Reported · Written up by our desk · EM Currencies

New Zealand business confidence rose sharply in the September quarter, with a net 40% of firms expecting better conditions, up from 14% previously, according to Forexlive citing NZIER quarterly survey data.

The survey showed own activity was flat, and NZIER warned that higher oil prices tied to the renewed US-Iran conflict remained a headwind.

Firms also broadly expected interest rates to rise over the coming year, while easing cost and pricing gauges gave the Reserve Bank of New Zealand some room on the inflation side.

For the New Zealand dollar, the survey offered only modest support via firmer growth and rate expectations, with the gap between optimism and actual activity tempering the signal.

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