New Zealand business sentiment strengthened further in October, preliminary survey data from ANZ showed Thursday.
The business confidence index improved to -14.5 percent from -28.5 percent in September. The own activity index gained 9 points to +3.6 percent.
Investment intentions were little changed and remain subdued at 1.4 percent. But employment intentions lifted again, up 9 points to just a net 3 percent of firms intending to reduce employment.
Profitability expectations were up another 9 points, with expected costs 7 points higher. The export expectations indicator climbed to 2.1 percent from -4.7 percent.
However, the backward-looking indicators continued to show the impact of the renewed Alert Level restrictions.
The ANZ said key tests for the economy lie ahead: the winding down of the wage subsidy and the lost summer for tourism.
Reprinted from RTTNews，the copyright all reserved by the original author.
Disclaimer: The views expressed are solely those of the author and do not represent the official position of Followme. Followme does not take responsibility for the accuracy, completeness, or reliability of the information provided and is not liable for any actions taken based on the content, unless explicitly stated in writing.
Leave Your Message Now