New Zealand business confidence retreated this month though firms grew more bullish about their own prospects and both pricing intentions and inflation expectations are rising from their lows.
A net 17 per cent of respondents in the Business Outlook survey expect business conditions to improve over the next 12 months, down from 20 per cent in August.
Companies' own activity expectations improved, with a net 29 per cent expecting more activity in their business in the year ahead, up from 26 per cent last month.
"The New Zealand economy has still come through in reasonably resilient fashion," said National Bank chief economist Cameron Bagrie. "Businesses can take heart. There is nothing like a trip to the US or Europe to lift one's spirits regarding New Zealand."
The latest monthly survey shows export intentions rose to 18 per cent from 16.9 per cent, employment gained to 8.5 per cent from 6 per cent and profits rose to 8.1 per cent from 5.3 per cent.