New Zealand's business confidence hits 10-year high at 66% amid falling interest rates and optimism in construction.

Business confidence in New Zealand has surged to a 10-year high, rising 5 points to 66%, as falling interest rates boost optimism, particularly in the construction sector. Despite this positive outlook, past activity and employment data remain negative, especially in retail. Inflation expectations have dropped slightly to 2.8%, nearing the Reserve Bank's target. Economists predict labor market improvements, though challenges persist.

October 31, 2024
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