Our Latest BNZ Confidence Survey reveals a distinct lack of pessimism regarding how various sectors are tracking at the moment. Even in dairying where farmers are adjusting to lower incomes there has been a very noticeable pullback in negative comments compared with our last survey. Across many sectors employers are finding it difficult to source skilled staff, especially construction and engineering.
In residential real estate stock shortages appear to have worsened. In Auckland two surveys ago negativity reigned. Last survey respondents noted things were improving again. This survey activity appears to be back to where it was well before new restraints were put in late last year.
The tourism and construction stand out as being particularly strong.