ANZ Business Outlook survey

ANZ's Business Outlook survey shows the results of a monthly survey including hundreds of businesses nationwide. 



About the survey

ANZ Business Outlook analyses where the economy will be going over the next 12 months. The publication is written for business people who can see at a glance how business confidence is stacking up, what export sales are up to, how the labour market is doing, and more.

The reports are available to read on screen or browse in a PDF format. You can view a PDF version of the survey questionnaire that we send to our respondents and the background information about the survey. 



 Please note there is no survey in January.

The ANZ Business Outlook is a key leading barometer for the economy, relying on the input of New Zealand businesses which has proven to be very adept at picking economic developments.


Keen to take part?

If you would like to be part of the ANZ Business Outlook survey, please email nzeconomics@anz.com, giving your email address, industry and the major region you operate in, we would love to hear your views.

2021 editions

October 2021 - Prelim: Fortitude (PDF 600KB)
The preliminary October ANZ Business Outlook continued a story of remarkable resilience. Business confidence eased 2 points to -9, but own activity jumped 6 points to 26.

September 2021 - Final: Holding on (PDF 1.16MB)
Forward-looking activity indicators remain remarkably robust, including in Auckland. Inflation pressures remain intense.

September 2021 - Prelim: Growth mindset (PDF 604KB)
The preliminary September read of the ANZ Business Outlook showed resilience. Business confidence rose 7 points to -7.0, while own activity was mostly unchanged, with a net 18% of firms expecting to increase activity.

August 2021: Sitting tight (PDF 1.14MB)
Initial responses after level 4 lockdown look encouragingly robust, but it’s early days. Business confidence fell 10 points; own activity 7. We will once more publish preliminary survey results from next month.

July 2021: Magma rising (PDF 484KB)
In July, headline business confidence eased 3 points, while firms’ own activity fell 6 points to +26%. Other activity indicators generally eased a little.

June 2021 - Final: Inflation pressures continue to build (PDF 500KB) 
Compared to May, headline business confidence eased 3 points while firms’ own activity rose 5 points to +32%. Inflation pressures remain intense. Retail pricing intentions soared.

June 2021 - Prelim: Inflation pressures off the charts (PDF 420KB) 
The preliminary June read of the ANZ Business Outlook showed a 2-point fall in business confidence but a 2-point lift in own activity expectations.

May 2021 - Final: May be peaking? (PDF 484KB) 
Compared to the preliminary May read, headline business confidence was 5 points lower at +2%, while firms’ own activity was also 5 points lower at +27%. Both are still higher than April.

May 2021 - Prelim: A slight smell of burning (PDF 416KB) 
The preliminary May read of the ANZ Business Outlook showed an 9 point jump in business confidence and a 10-point leap in firms’ own activity expectations. All the sub-components also showed solid lifts.

April 2021 - Final: Bouncing back (PDF 496KB) 
Compared to the preliminary read, headline business confidence jumped 6 points in April to a net -2%, and firms’ own activity lifted 6 points to +22%. All activity indicators were much higher in the late-month sample than in the preliminary read.

April 2021 - Prelim: Cost plus (PDF 412KB) 
The preliminary April read of the ANZ Business Outlook showed a 4-point fall in business confidence and unchanged own activity expectations.Pricing expectations hit a new high, in data that goes back to 1992. 

March 2021 - Final: Slipping (PDF 464KB) 
Compared to February, headline business confidence fell 11 points to a net -4%, while firms’ own activity outlook fell 4 points to 17%.

March 2021 - Prelim: A mix of ups and downs (PDF 308KB) 
The preliminary March read of the ANZ Business Outlook showed a fall in business confidence and own activity expectations, but the details were mixed. Cost and inflation indicators continue to lift.

February 2021 - Final: Steady (PDF 384KB) 
Headline business confidence fell a couple of points to net 7.0%, while firms’ own activity outlook eased 1 point to 21.3%. 

February 2021 - Prelim: Activity up, but costs and prices up more (PDF 276KB) 
The preliminary February read of the ANZ Business Outlook showed a further lift in activity indicators – but a sharp lift in costs, dampening profitability.