NZ confidence soars

More good news – business confidence in New Zealand is rising:

New Zealand has soared to sixth in the world for business optimism, its highest ranking since 2010 with the mature economies of the United Kingdom and the United States starting to drive global business growth, according to new research from Grant Thornton’s International Business Report (IBR).

The gap between New Zealand and Australian business confidence remains wide with only a net 23% (26th in the survey) of Australian businesses feeling upbeat compared with 64% of New Zealand businesses.

Of the 45 countries surveyed New Zealand ranks sixth in confidence at 64%, behind Philippines 96%, United Arab Emirates 84%, Denmark 76%, United Kingdom 76% and Peru 74%.

Simon Carey, partner at Grant Thornton New Zealand, said that New Zealand is now reaping the benefits of some sensible government management of the economy as a result of the Global Financial Crisis.

“The economy has remained pretty steady over the last couple of years but we are now building a solid foundation for fruitful economic gains in the years ahead, with some economists picking a 4% growth for the New Zealand economy next year,” he said.

The ‘U-turn’ in sentiment by the United Kingdom and the United States suggests a shift in the global dynamic, with business growth opportunities set to increase in mature economies while emerging nations adjust to the prospect of slower growth than in recent years. . .

A slightly rosier outlook for the UK and USA is promising,

The outlook is rosy in #gigatownoamaru.


5 Responses to NZ confidence soars

  1. jabba says:

    more good news .. the Govt is doing a fantastic job


  2. Armchair Critic says:

    It’s curious that Australia’s business confidence is at a low and NZ’s is at a high. I’m certain that the people of #gigatownpor know why, do any of the commenters here have any ideas?


  3. jabba says:

    I supose we will hear that NZ has had a drop in unemployment next .. gee wizz


  4. Quintin Hogg says:

    My 2 cents.

    The optimism is patchy.

    Tradesmen in Auckland are as scarce as hens teeth as they are very busy.

    Clients in the marine industry such as the production boat builders and support trades are hurting badly.

    Other general clients are expanding.

    AC, Australia’s recent growth was mining boom fuelled. Little else is happening over there.

    When demand for coal, iron ore etc reduced then Western Australia and queensland hit a pothole as did Australia.

    Things seem to have changed with increase in demand from China but that may only be a gut feeling derived from the various reports I read.

    The aussies are probably down int he dumps because of the pothole. Not being able to win an ashes series may also be a cause.


  5. homepaddock says:

    AC @ 12:13, a post on this prompted by two visits from NZers who live in Australia is in the making. In the meantime, Quinton’s explanation makes sense in #gigatownoamaru and beyond.


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