The latest NZIER Quarterly Survey of Business Opinion, which shows the highest level of general business confidence since 2021, is a sign the economy is moving in the right direction, Finance Minister Nicola Willis said.

“When businesses have the confidence to invest and grow, it means more jobs and higher incomes for Kiwis,” Willis said.

“The survey shows business is feeling more positive after a period doing it tough with a period of high inflation and climbing interest rates now coming to an end."

Willis said business confidence turning positive for the first time since June 2021, and only the second time since 2017, shows the Government’s plan to rebuild the economy is working.   

“We are doing our bit to support growth by fast-tracking projects of economic significance, signing trade agreements, refocusing the education system on core skills and removing red tape," Willis said.

“There have been three official cash rate drops since August and annual inflation is down to 2.2 per cent, providing relief to Kiwis and lowering the cost of borrowing for businesses wanting to invest and grow.   

“Businesses know this Government has their backs, that’s why more and more of them are taking heart that the economy is turning a corner.”