11 Jul 2013

NZ firms more confident than Australia's - survey

12:28 pm on 11 July 2013

An international survey has found New Zealand businesses are about five times more confident than their Australian counterparts and are expecting to make higher profits, employ more people and to export more.

The survey by Grant Thornton of 12,500 businesses in 44 countries ranks New Zealand seventh with a confidence reading of 60%. Chile and Peru topped the table at 88% and 86% respectively.

Australia ranks 31st with a confidence reading of 13%, down 10 points from three months ago.

Paul Kane of Grant Thornton said Australia has been hurt much more by the slowing pace of growth in China than New Zealand has.