• New Zealand ANZ Business Confidence for August: 48.1 (vs. prior of 52.8)
  • New Zealand ANZ Business Outlook for August: 43.3 (vs. prior 43.7)

While business confidence fell 4 points, its from very high levels, ANZ saying:

The depths of winter typically get people down, and our seasonally adjusted estimate showed no change. The message is clear: there is a huge degree of optimism percolating across the economy

  • a net 72 percent of construction respondents expect better times ahead.
  • Sentiment across all the major sub-sectors is well north of historical averages
  • “That’s a sign of an economic expansion (we’re beyond recovery) that is becoming more widespread and broad-based”
nz business confidence August 2013