New Zealand Business Confidence Rises

SYDNEY (Reuters) – New Zealand’s business confidence surged in August, reaching its highest level in a decade, according to an ANZ Bank survey released on Thursday.

The survey’s headline measure showed that a net 50.6% of respondents anticipated an improvement in the economy over the next year, compared to 27.1% optimism reported in July’s poll.

Furthermore, 37.1% of respondents expected their own businesses to grow in the coming 12 months, marking a seven-year high, up from 16.3% last month.

“Things are looking up, albeit from a pretty dark place for many firms,” stated ANZ Chief Economist Sharon Zollner.