An increasing confidence in the economy is clearly visible in two sets of survey results released today. A majority of respondents are confident about the future for the first time in months, shows BNZ Confidence Survey unveiled this afternoon, while similar sentiments were displayed by a UMR Research survey this morning.

It was forwarded by the BNZ survey that majority of the respondents assume that the economy will enhance over the coming year, compared to 42% in August and nearly
15% in July.

Apart from this, another survey released today conducted by UMR research found a fall to 61% in the section of people concerned about the impact of the global recession on the New Zealand economy, after touching a high of 72% in June.

Meanwhile, though the BNZ confidence survey warned of weakness in many areas, including agricultural servicing, tourism and advertising; it still discovered extensive positive comments regarding more customers coming through the door.

Furthermore, the survey also suggested the motor vehicle industry as another area with potential weakness; however, it was found by Statistics NZ information, also released today, that the motor vehicle wholesale trade was up for the first time in nearly two years.

A source close to the survey process, said: "The BNZ survey found that there was an upturn in the retail sector, although it was quite muted, while there were some increasingly positive signs in the manufacturing sector, but these were not widespread yet."

The survey also found signs of life in the legal, architectural and construction industries.