ANZ Business Outlook: New Zealand Confidence Holds Despite Volatility
What happened
The ANZ Business Outlook for October showed headline business confidence rising one point to 53 percent, with all forward-looking activity measures remaining positive. According to the report, New Zealand businesses have handled the second oil price shock of the year without a repeat of the sharp confidence drop seen earlier this year. Firms are increasingly accepting a more volatile global environment and continuing with their plans, particularly regarding investment.
From newswire.co.nz
Why it matters
The outlook suggests that New Zealand demand has held up despite price increases, and businesses are prioritizing control over external uncertainty. This resilience comes as the Reserve Bank held the Official Cash Rate at 2.75 percent, contrasting with earlier periods of sharp economic contraction.
Breman's vote influenced Reserve Bank of New Zealand policy, while ANZ economists provided forecasts and Sharon Zollner commented on the New Zealand economic outlook.
From newswire.co.nz
Who's involved
Who could feel it
Possible knock-on effectsThese are possibilities Brind reasoned out, not predictions, and not advice. Most are not stated in any report.
- KiwibankSpeculative
Kiwibank might benchmark its forecasts against the updated outlook, which shows softening investment intentions.