Positive vibes abound

The heady optimism sweeping through most sectors of the New Zealand economy has been further confirmed by a new Economic Confidence Index.

The Business Herald-DigiPoll Economic Confidence Index combines measures of consumer, employee and business confidence to get an overall fix on the economy.

On a 100-point scale, where 50 would be a neutral reading, consumer confidence was 81.6. This first reading has nothing to compare it with directly but the high level does correspond with the findings of other consumer confidence measures.

The employee confidence reading at 56.8 suggests New Zealanders now feel more secure in their jobs. That is in line with what would be expected because of the continued drop in unemployment.

Business confidence was 81.4, in line with other business confidence measures. The overall Economic Confidence Index produced by those readings is 73.2.

The survey interviewed 783 people between March 15 and 22. It will be repeated on a quarterly basis.