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New Zealand business confidence jumps as cost pressures ease
The NZIER survey lifted general business sentiment to a net 40% positive, while recent trading activity was slightly weaker than in June.
Action Forex highlights findings from the NZIER Quarterly Survey of Business Opinion for the September quarter, showing businesses became more optimistic about the months ahead even as conditions stayed difficult for many industries.
According to the survey, cost pressures eased a little versus last quarter, and general business sentiment rose to net 40% positive compared with net 14% in June.
The report notes that firms were more confident about their next few months, but recent performance remained rough across many industries, with trading activity over the last three months slightly weaker than in June.
Action Forex also points to survey timing and inputs, saying it was conducted from 9 to 28 September and that later responses were less confident as resurgent world oil prices increasingly showed up at fuel pumps.