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7/5/2021 10:03:36 PM GMT | By Anil Panchal
As per the latest Quarterly Survey of Business Opinion (QSBO) from the New Zealand Institute of Economic Research (NZIER), for the Q2 2021, 60% of financial services sector firms expect interest rates to rise over coming year.
Additional details…
Capacity Utilisation 94.9% versus 93.3% in Q1 2021, inflation pressures rising.
On a seasonally adjusted basis, 10% expected business conditions to improve, better than 8.0% pessimism recorded in the previous period.
Ahead of the QSBO release, the Australia and New Zealand Banking Group (ANZ) said,
We’re forecasting annual GDP growth of 15.3% in Q2, but with growth so far out of whack with typical ranges, getting precise with what today’s data imply for GDP growth will be a challenge.
New Zealand QSBO for Q2 2021, business confidence headline 7% (vs. -13% prior)
Mon 5 Jul 2021 22:01:44 GMT
From the New Zealand Institute of Economic Research
Capacity utilisation is higher, coming in at 94.9% vs. 93.8% in Q1.
Net 10% of businesses expect an improvement in the economic outlook on a seasonally adjusted basis
from the previous quarter when net 8% of businesses had expected a deterioration
Firms own trading activity net 26% of businesses reporting increased demand in the June quarter
Strong construction demand is boosting confidence in the building sector
strong pipeline of residential, commercial and government construction work over the coming year
capacity pressures are becoming more acute in the construction sector . COVID-related supply chain disruptions and labour shortages . building construction firms difficulty finding skilled labour at the highest for the survey s history (going back to 1976)
NZ business outlook rebounds sharply, triggering rate hike speculation
07/05/2021 | 11:19pm EDT
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WELLINGTON (Reuters) - New Zealand s business confidence improved sharply in the second quarter as the COVID-free economy surged, prompting the New Zealand dollar to surge as investors brought forward rate hike expectations.
A net 7% of firms surveyed expected general business conditions to improve, compared with a 13% predicting a deterioration in the previous quarter, the New Zealand Institute of Economic Research s (NZIER) quarterly survey of business opinion (QSBO) showed.
On a seasonally adjusted basis, 10% expected business conditions to improve, swinging from 8% who had expected a deterioration in the previous survey.