Business sentiment hits a 15 month low

Business sentiment hits a 15 month low.

Welcome to the results of our latest BNZ Confidence Survey.

Our monthly BNZ Confidence Survey has revealed a return of pessimism regarding prospects for the New Zealand economy over the coming year. A net 5% of respondents expect the economy to be in worse shape compared with a net 22% in our early-May survey expecting things to get better. In April a net 34% of respondents were expecting things to improve.

Developments in Europe have undoubtedly sapped confidence about the year ahead, but in the farming sector there has been a clear rise in caution about export prices in the coming season and businesses selling to farmers report restraint in budgets. Accountants note that many clients are still finding cash flows tight, but construction is turning upward along with recruitment, and printing & packaging.

Residential real estate remains strong with good numbers of buyers but few listings on average. But retailing remains a weak sector.
Full Results June (PDF file)
Best regards
Tony Alexander

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