Our monthly survey of BNZ Weekly Overview readers shows confidence about the economy remains at very high levels. A net 66% of the 496 respondents expect the NZ economy to be in a better condition in a year’s time than it is now. Last month’s outcome was a net 68% and this month only 23 respondents expect things to get worse.
Across almost all sectors conditions are reported to be improving with construction, dairying and the agricultural service sectors particularly strong. The results suggest strong growth beckons for the NZ economy this year which we expect come Thursday morning to prompt the Reserve Bank to start raising the cash rate from 2.5% to 5% come the end of 2015.