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Spring is in the air: BusinessNZ

NZ Newswire logoNZ Newswire 28/09/2016

BusinessNZ has issued an upbeat report on the economy, saying nearly all the indicators point to continued expansion.

"There's a distinct spring in the step of the economy," chief executive Kirk Hope said on Wednesday when he released BusinessNZ's latest Planning Forecast.

"Indicators are pointing towards a respectable growth rate of about 3.5 per cent for 2016/17."

Mr Kirk said manufacturing and services data were strong, construction and tourism were booming, and confidence was returning to the agricultural sector.

"Indicators of business and consumer confidence are generally positive across the board, and feedback from BusinessNZ's affiliated industries shows the optimism shared widely across most sectors," he said.

"However, household and farm debt are growing rapidly, bringing the risk of exposure when interest rates inevitably rise."

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