Tara-ā-Umanga Business Expectations Survey
Overview
We’re investing in a Business Expectations Survey, Tara-ā-Umanga, to better understand the economic outlook held by key decision makers.
This will make a third Te Pūtea Matua Reserve Bank of New Zealand expectations survey, alongside our household survey, Tara-ā-Whare, and our longstanding Survey of Expectations, which focuses on the views of experts, such as professional forecasters, economists, and industry leaders.
This survey is an expansion in our knowledge about business expectations. There will be no immediate impact on the current Survey of Expectations. We are committed to maintaining the consistency of the long-running time series for professional forecasters.
Business expectations are critically important as they may affect investment, hiring, wage- and price-setting decisions.
Our investment in an industry-wide survey will also provide evidence to support decision-making across many aspects of our mandate, beyond monetary policy.
Why are we asking for feedback?
Our recent review of monetary policy identified several areas where better data could improve our understanding of the economy to support high quality monetary policy decision-making.
We have identified that a richer understanding of business inflation expectations will improve our understanding of the present economic outlook held by key decision-makers. After all, in most cases, businesses are the ones who set prices.
What we want your feedback on
We want to hear your views on the proposed sample design and content.
Some of the topics we’ve highlighted in the consultation paper are:
- the industries we propose focusing on and sectors we plan to omit from the sample – the aim is to ensure we hear from those businesses with the greatest impact on overall price-setting
- the rotating panel design, where we will repeatedly survey some businesses to understand how their views change over time
- the core questions we plan to include every quarter
- our approach to occasional and rotating questions
How you can have your say
- Complete your submission online
- Email your submission to statsunit@rbnz.govt.nz
About online submissions
You can choose to complete the survey online, by answering each individual question or by uploading a PDF of your written submission.
If you would like to partially complete the survey and finish it later, make sure you click Save and come back later... and enter your email address. You'll receive an email from Citizen Space with a link to complete your submission.
Submissions will be public unless advised otherwise
Please let us know if you would not like your submission published on our website.
When you can have your say
You can have your say from Monday 11th March to Thursday 28th March 2024 at 5pm.
Next steps
After the consultation closes, we will consider the feedback received alongside the results from our pilot survey. These will be used to inform the design of the new survey.
Find out more about our pilot survey.
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