BNZ Survey Predicts Upturn

September 8, 2008 New Zealand Finance  No comments

The Bank of New Zealand Confidence Survey, released on the 8th of September, indicates an upturn in business sentiment.

The released results of the survey show that 27 percent of respondents believe that there will be an upturn in the economy, over the upcoming year. This is the highest rate of business confidence since the inception of the BNZ Confidence Survey in 2005.

Bank of New Zealand commented on the survey, saying that they expect their results to be backed by the soon to be released National Bank Business Confidence Survey. It was further commented that the survey indicates an upcoming period of small growth, perhaps even above-average growth in 2010.

Commentators claim that the increased confidence is due to upcoming tax cuts, expected interest rate drops and the fall of the New Zealand Dollar