New Zealand ANZ Business Outlook Survey is described by the bank:
- analyses where the economy will be going over the next 12 months
- a key leading barometer for the economy
- relying on the input of New Zealand businesses which has proven to be very adept at picking economic developments
Business Outlook (confidence): 58.1% of respondents expected the economy to improve over the year ahead
- highest level since February
- prior 49.6%
Own Activity: 44.6% expected their own businesses to grow
- prior 43.4%
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New Zealand's business confidence jumped in October, aggressive interest rate cuts by the Reserve Bank of New Zealand cited. The RBNZ has cut its cash rate by 300 basis points over the current easing cycle which began in August 2024 .
ANZ comment:
- The pickup in retail sentiment underlines that as the weather warms the economy is set to do the same, with significant monetary easing working its way through
