Key facts
- New Zealand business confidence rose to a net 52.5% in October.
- 46.2% of firms expect their own activity to grow.
- The New Zealand economy grew 2.2% in the year to September 2026.
- The New Zealand activity index showed annual growth of 2.2% in the September 2026 quarter.
New Zealand business confidence increased in October, with firms maintaining a positive outlook as all forward-looking activity indicators turned positive, according to an ANZ Bank survey. Business confidence rose to a net 52.5% of respondents expecting the economy to improve over the year ahead, up from 51.9% in September. However, only 46.2% expected their own activity to grow, a slight decrease from 47.9% in the previous month. Some businesses expressed surprise at the resilience of demand, while others recognized the risks associated with deferring investment decisions. Separately, New Zealand's economy grew by approximately 2.2% in the year to September 2026, as measured by the New Zealand activity index published by Stats NZ. This represents a slight increase from the 1.9% growth recorded in August 2026, though the overall trend indicates slowing growth over the past year. The index was boosted by factors such as the BusinessNZ manufacturing index and ANZ's activity outlook survey, but was tempered by lower electricity demand and weaker card spending.