30 Apr 2014
ANZ business confidence: NZ remains 'in the groove'
FXStreet (Bali) - The New Zealand ANZ Business Confidence indicator for the month of April came at 64.8% vs last month's 67.3% reading. Meanwhile, the ANZ Activity Outlook came at 52.5% vs 58.2% last.
Cameron Bagrie, Chief Economist at ANZ, said "the economy remains 'in the groove' with elevated levels of confidence. Firms’ own activity expectations, employment and investment intentions, and profit expectations are well north of historical averages."
Bagrie added that "our composite indicator, incorporating both business and consumer confidence, is still signalling the potential for annual economic growth of around 6 percent by mid-2014."
"We’re not buying into that sort of growth trajectory but there’s no doubting the economy is set to expand at a rapid clip", Bagrie concluded.
Cameron Bagrie, Chief Economist at ANZ, said "the economy remains 'in the groove' with elevated levels of confidence. Firms’ own activity expectations, employment and investment intentions, and profit expectations are well north of historical averages."
Bagrie added that "our composite indicator, incorporating both business and consumer confidence, is still signalling the potential for annual economic growth of around 6 percent by mid-2014."
"We’re not buying into that sort of growth trajectory but there’s no doubting the economy is set to expand at a rapid clip", Bagrie concluded.