Business Confidence

Saw this sentence in an email today:

“Recent reports show that business confidence is at its highest level in over four years. 26% of companies, against 12.6% in July, expect sales and profits to increase over the next 12 months.”

Of course there wasn’t even a financial crisis for most of those four years, which leads to two observations: 1) things are so desperate that 1/4 of companies being optimistic about the future now qualifies as evidence of a recovery, 2) things were just as bad in NZ before the financial crisis… so in that sense the financial crisis didn’t really change much..

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