New Zealand: Business confidence falls in December but remains upbeat
Latest reading: Business confidence came in at 62.3 in December, down from 64.9 in November but still among the highest readings in years.
Reported past activity—which has the strongest correlation with GDP—improved markedly to move out of negative terrain, in line with our panelists’ projections for GDP growth to have returned in Q4 after economic contractions in Q2 and Q3.