5 Mar 2012

Business confidence up again

11:45 am on 5 March 2012

Business confidence has recorded a hat trick, rising for the third consecutive month.

The BNZ Confidence Survey shows a net 27% of businesses feeling optimistic about the economy now, compared to 13% in February and three percent in December.

The dairy, real estate and construction sectors responded well, but retail and tourism are still sluggish.

BNZ chief economist Tony Alexander says that while the improving situation in Europe is bringing more optimism, major growth in hiring and investment is not evident.