N.Z. Business Confidence Rises to 12-Month High, ANZ Says
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New Zealand’s business confidence rose to a 12-month high in May as record-low interest rates and higher commodity prices bolster the prospect for an economic recovery from the nation’s deadliest earthquake in 80 years.
A net 39.7 percent of companies expect their sales and profits to increase over the next year, the highest since May 2010 and up from 29.5 percent in April, a survey by ANZ National Bank Ltd. released in Wellington today showed. The net figure subtracts the number of pessimists from the number of optimists.