New Zealand business confidence ripped higher in December

Richie McCaw in a post-Rugby World Cup Final press event in England. Photo: Getty Images

New Zealand business confidence soared in December, rising to an eight month high.

According to the latest NBNZ business outlook survey, a net 23% of respondents indicated that they expect economic conditions to improve over the next 12 months, up from 14.6% in November.

As suggested by the bounce in economic sentiment, a net 34% of respondents indicated they expected their businesses to grow over the same time period, again higher than the 32% level seen previously.

Yesterday Statistics New Zealand reported that the New Zealand economy grew by 0.9% in the September quarter, led by strong growth in the services sector.

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