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, giving your email address, industry and the major region you operate in, we would love to hear your views.

2022 editions

July 2022: Holding pattern (PDF 1.30MB)
Business confidence bounced 6 points in July to -56.7, while expected own activity was little changed at -8.7. Most activity indicators were little changed, but residential construction intentions plummeted again to a fresh record low. Inflation pressures remain intense, but may be topping out.


June 2022: On the skids (PDF 1.54MB)
Business confidence fell 7 points to -63% in June, while expected own activity fell 4 points to a net 9% expecting lower activity ahead. The suite of activity indicators were weaker across the board. Expected profitability is particularly dire. Supply-side issues continue to dominate the list of firms’ biggest problems, consistent with inflation pressures that are still intense.


May 2022: Slipping (PDF 1.30MB)
Business confidence fell 14 points in May to -55.6, while own activity fell 13 points to -4.7. Activity indicators were mixed, with small falls dominating. Residential construction intentions continue to dive. Inflation pressures remain intense, but with signs of topping out.


April 2022: Starting to deconstruct inflation? (PDF 1.20MB)
Business confidence remained very low in April, while own activity lifted another 5 points, as Omicron disruption waned. Activity indicators were mixed. Inflation pressures remain intense, with inflation expectations sharply higher, though pricing intentions eased slightly. There are clear signs of easing inflation pressure in the construction sector.


March 2022: Decidedly unbouncy (PDF 1.29MB)
Business confidence recovered 10 points in March, while own activity lifted 5 points, compared to February. Both remain considerably lower than at the end of last year. Activity indicators generally lifted slightly across the board, with the marked exception of residential building intentions, which tanked. Inflation pressures continue to intensify and broaden to every corner of the economy. Measures are simply off the charts.


February 2022: Worst of both worlds (PDF 1.13MB)
Headline business confidence tanked 28 points, while own activity fell a more modest 14 points, compared to December. Activity indicators were weaker across the board. Inflation pressures continue to intensify, with inflation expectations and pricing intentions hitting fresh record highs.