Optimism for the New Zealand economy is still rising: Bank survey

Optimistic that the New Zealand economy will improve its highest level in five and a half years, according to the monthly business confidence survey, Bank of New Zealand (BNZ) for.

A 57 percent expect the economy will be better in one year 25,000 respondents, the highest figure since the survey began, the total, said the bank.

This figure is 42 per cent from May, June and improvement is the third consecutive month.

BNZ chief economist Tony Alexander said the finding that an overwhelming majority of positive emotions in agriculture, such as accounting and the improvement of non-residential real estate industry.

However, the overall tone is still anecdotal "very cautious," he said.

Appear in the comments is a matter of a subject in Christchurch, which is caused by the earthquake killed at least 181 people on February 22 reconstruction stronger activity expectations.

Another problem is that the push from the Rugby World Cup on, which played New Zealand in September.

"The survey results show that it is still in New Zealand businessman for better planning of time (usually) reasonably in advance," the report said.

But it warned that "Soaring optimism is not a sufficient condition for strong growth. After all, the strong lift early September 2008 right before the global financial crisis came, and last year's confidence, is not established until June the fact that the economy shrunk in the quarter. "

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