- ANZ Business confidence for February: 70.8 (prior was 64.1)
- ANZ Activity Outlook for February: 58.5 (prior was 53.5)
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It took me a few seconds extra to post this data due to having to do a double-take on that monster of a business confidence result.
HUGE result – the thing is a monster.
From ANZ:
- A net 71 percent of firms are optimistic about general prospects – the highest reading since March 1994
- Firms’ activity expectations regarding their own business (+59) rose to the highest reading since June 1994
- Expected profitability (+45) is the highest since April 1994
- A net 32 percent of businesses expect to be hiring more staff – the highest reading since December 1992
- Investment intentions (+35) are the strongest since March 1994
- Strong survey results are occurring despite headwinds from an elevated New Zealand dollar and the fact that a net 90 percent of respondents expect higher interest rates over the year ahead
- The economy will surge in 2014 if readings from our composite growth indicator manifest into economic growth
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NZD is hitting a 6-week high as I type
Maybe not to infinity and beyond, but NZ business confidence is very, very strong
