Wellington, New Zealand - September 30, 2024 - New Zealand's business confidence surged to a new 10-year high in September, driven by expectations of further interest rate cuts, as reported by ANZ Bank.
A net 60.9% of survey respondents anticipate economic improvement over the next year, a significant increase from 50.6% in August. This marks the highest level of business confidence since April 2014. Additionally, a measure of how businesses perceive their own activity has also risen to its highest point since mid-2014.
The increase in business confidence suggests a potential uplift in economic activity, which could have positive implications for New Zealand's overall economic landscape and its international trade relations.
Source: Bloomberg