Business looking forward to better year: survey

BNZ chief economist Tony Alexander Photo / supplied

Optimism that the economy will improve, as measured by a BNZ monthly survey, is at its highest level in the 5-and-a-half years since the survey started.

The latest survey, published overnight, found a net 57 per cent of respondents expected the economy would be better in a year.

That was well up from a net 42 per cent positive in May, with June being the third month in a row of improvement.

BNZ chief economist Tony Alexander said sentiment was overwhelmingly positive in agriculture, and improving in sectors such as accountancy and non-residential real estate.

Despite that, the overall tone of anecdotes remained "very cautious".

One theme coming through in comments was an expectation of stronger activity related to the rebuilding of Christchurch, Alexander said. Another was hope regarding the boost to come from the Rugby World Cup.

- NZPA