New Zealand business confidence turns positive in Sept, inflation concerns linger: ANZ survey

NEW Zealand’s business confidence moved into positive territory in September even as concerns about high inflation remained, an ANZ Bank survey showed on Thursday.

The survey’s headline measure showed a net 1.5 per cent of respondents expected the economy to improve over the year ahead, versus a 3.7 per cent pessimism level in the previous poll in August.

A net 10.9 per cent of respondents expected their own businesses to grow in the next 12 months, versus 11.2 per cent last month.

“Inflation pressures are gradually waning in the big picture, but not rapidly nor in a straight line, and the jury remains out on whether it’s occurring fast enough to bring core inflation pressures down in a timely fashion,” economist Susan Kilsby said in a statement. REUTERS