New Zealand Businesses Feeling Confident For 2012

04 January 2012 - Which Way to Pay

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New Zealand Businesses Feeling Confident For 2012

The Grant Thornton International Business Report has shed light on the growing optimism felt in New Zealand concerning business confidence and forecasts for the year ahead. Phil O’ Reilly, Chief Executive of Business New Zealand, has said that business have “high hopes” for the New Year. In the survey, released today, 36% of those assessed were generally feeling more encouraged by the prospects of 2012 compared to the previous year. Some have suggested that the outlook looks strong with export markets expanding and increased sales seen in the arrival of markets in India and China. This is the first time that optimism felt in New Zealand has succeeded that of Australia. Australia’s business confidence has dipped consecutively 4 times to only 24%. Elsewhere across the globe, America’s confidence stands at just 1% whereas Britain’s is severely lacking at -35%.

Peter Sherwin, from Grant Thornton, has said that the improvement in New Zealand’s optimism can be accounted to a rapid improvement in the employment situation in New Zealand. The unemployment rate has dropped and the exchange rate has finally started to settle. Part of this new found confidence must be attributed to the general feeling among many to put the all the troubles, economic, industrial and not to mention the natural disasters, firmly behind them.  Perhaps New Zealand feels that surely 2012 cannot at least be as bad as the year just gone.

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