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Financial News: New Zealand Business Confidence Improves In May

New Zealand Business Confidence Improves In May

05/28/2019 - 23:59:00 (RTTNews)

(RTTNews) - New Zealand business sentiment strengthened in May on firms' assessment about own activity, survey results from ANZ showed Wednesday.

The headline business confidence index rose by 6 points to net -32 percent in May.

Firms' expectations for their own activity lifted 2 points to a net 9 percent expecting a lift. Manufacturing was the most optimistic sector and construction was the least. A net 3 percent of firms were expecting to lift investment, up 1 point from April.

Employment intentions declined by 4 points, while profit expectations gained 3 points. Firms' pricing intentions rose 2 points to +29 percent. Meanwhile, export intentions fell 2 points.

Commercial construction intentions slid 12 points and residential declined 7 points to a fresh 10-year low.

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