Business confidence on the rise

Recent reports suggest that business confidence is on the rise again following the formation of the coalition Government late last year. A Radio New Zealand report said that ANZ's December monthly survey showed a net 33 percent of respondents expected the overall economy to improve over the next 12 months, the highest since March 2015. A net 29 percent said their own business outlook was positive, a two-year high.

Meanwhile, the New Zealand Institute of Economic Research’s Quarterly Survey of Business Opinion suggested that business confidence rose sharply in the final three months of 2023 despite concerns over the sluggish economy.

At the same time, annual inflation fell in line with economists’ expectations to 4.7 percent in the final three months of 2023, down from 5.6 percent in the previous quarter.

The annual Franchise Confidence Index, which measures the responses of franchisors and specialist service providers, is due to be published in a few weeks' time.