Celebrating 25 Years of Scoop
Business Confidence Rises Under New Economic Management
Hon Nicola
Willis
Minister of Finance
29 August 2024
Today’s ANZ Business Outlook shows businesses are feeling a whole lot better about the future, Minister of Finance Nicola Willis says.
“It’s so pleasing to see business confidence is the highest in a decade, and firms’ outlook for their own activity, looking 12 months into the future, is the highest in seven years.
"Businesses have been doing it tough for a long time, and today’s report is an indication they see better times ahead.
“Difficult conditions are starting to ease. We are already seeing the green shoots of recovery with inflation forecast to be under 3 per cent this quarter. Two weeks ago, the Reserve Bank cut the official cash rate by 25 basis points – the first cut since 2020.
“It’s early days and there is still more work to do, but our careful and deliberate plan is working. Like businesses, we are optimistic and confident that brighter days are ahead,” Nicola Willis says.
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