New Zealand Business Confidence Remains Solid

For the months of October to December 2016, the state of the New Zealand economy kept an optimistic stance as the region’s construction projects thrive continuously coupled with the increase in the price of dairy products which made the rural region's confidence bounced back due to this recovery.

Based on the poll conducted by the New Zealand Institute of Economic Research, the seasonally adjusted net of firms is 26 percent.

Stronger trading for the last three months of 2016 showed 21% net and 25% expansion is expected for the next quarter.

Christina Leung, the principal economist from NZIER, said the business confidence index (BCI) is strong due to high demand in construction. While the net of South Island companies is 32% and for the lower North Island firms hit 30% versus 25 and 19 percent results in September.

Economists from ASB Bank assessed that the country’s economy will rose by 3.5 percent for this year since the tourism sector advanced as well.