30 Sep 2015

Business confidence rebounds, but firms still gloomy

3:08 pm on 30 September 2015

Business confidence has rebounded from six year lows - but firms remain gloomy about the economy.

The ANZ Bank's latest business outlook survey found pessimists still outnumber optimists in September.

A net 19 percent of respondents expected the economy to get worse over the coming year, compared with a net 29 percent expecting a deterioration in the previous month.

More firms were upbeat about their own prospects, with sentiment among farmers recovering from a record low, while construction and manufacturing also rose.

The bank's economists said the survey indicated the economy would grow modestly, at about 2 percent.

Get the RNZ app

for ad-free news and current affairs