The latest quarterly survey of business opinion by the New Zealand Institute of Economic Research shows the highest level of general business confidence since 2021.
And Finance Minister Nicola Willis says that’s a sign the economy is moving in the right direction.
“When businesses have the confidence to invest and grow, it means more jobs and higher incomes for Kiwis,” Willis says.
“The survey shows business is feeling more positive after a period doing it tough with a period of high inflation and climbing interest rates now coming to an end.
“Business confidence turning positive for the first time since June, 2021, and only the second time since 2017, shows the Government’s plan to rebuild the economy is working.
Willis says the Government is “doing its bit” to support growth by fast-tracking projects of economic significance, signing trade agreements, refocusing the education system on core skills and removing red tape.
“There have been three official cash rate drops since August and annual inflation is down to 2.2 per cent, providing relief to Kiwis and lowering the cost of borrowing for businesses wanting to invest and grow.
“Businesses know this Government has their backs, that’s why more and more of them are taking heart that the economy is turning a corner.”
