Stonking confidence

Stuff reports:

The economy is running at the best pace in more than a decade and business confidence is the highest since 1994 according to a new survey.

The latest NZIER Quarterly Survey of Business Opinion released today shows optimism and activity were being translated into hiring, investment and better profits.

“The underlying trend is very, very strong – stonking,” NZIER principal economist Shamubeel Eaqub said.

Retail spending surged to its highest level since 1994 and building was at its best since December 2003.

The survey shows confidence about the general business situation remained at net 52 per cent of firms positive, seasonally adjusted, the highest since June 1994.

The ten year highs keep getting replaced by 20 year highs.

So obviously this is a time in which we need to increase taxes, scrap our monetary policy, and partially nationalise electricity and housing sectors!