Latest / Best of Business / Mike's Minute: I'm confident for 2026

Transcript

Mike's Minute: I'm confident for 2026 · Best of Business

• 0:09
  Speaker 1: You're listening to a podcast from Newstalk sed B. Follow
• 0:12
  Speaker 1: this and our wide range of podcasts now on iHeartRadio.
• 0:16
  Speaker 2: It's probably came out on the wrong day to get
• 0:19
  Speaker 2: the coverage it actually deserved. But none of the last
• 0:22
  Speaker 2: or latest pieces of the economic turnaround has told us basically,
• 0:25
  Speaker 2: we are there. We have arrived. This is consumer confidence.
• 0:29
  Speaker 2: It is back. It is up six points to ninety eight.
• 0:32
  Speaker 2: Now it needs to be one hundred and more for expansion,
• 0:34
  Speaker 2: but it's the highest figures in stune. It backs the
• 0:37
  Speaker 2: business confidence of last week, which was up a lot.
• 0:39
  Speaker 2: Business comes first because they see the turnaround on sales.
• 0:43
  Speaker 2: The spending numbers back that up because they're pretty much
• 0:45
  Speaker 2: real time, and then you get the confidence. As a
• 0:48
  Speaker 2: follow up are given. Although we are spending, some may
• 0:50
  Speaker 2: not want to admit it may still feel a bit
• 0:53
  Speaker 2: bit of a funk. But add it all together and
• 0:55
  Speaker 2: the conclusion is inescapable. You can also add the ASB
• 0:59
  Speaker 2: housing numbers if you want to give you those half
• 1:01
  Speaker 2: an hour ago. Confidence in the housing market at a
• 1:03
  Speaker 2: fifteen year high. Why because it's almost perfect good supply,
• 1:07
  Speaker 2: cheap money. But most importantly, we seem to have crossed
• 1:10
  Speaker 2: the psychological barrier and given ourselves permission to start to
• 1:14
  Speaker 2: feel good again. The irony is the growth that drives
• 1:16
  Speaker 2: all of this. Might just have been there all along.
• 1:18
  Speaker 2: I mean, we get the Q three GDP number later
• 1:21
  Speaker 2: on this month, infometrics have already forecast that to be
• 1:23
  Speaker 2: zero point nine. Add that to the rest of the
• 1:26
  Speaker 2: year and you're well above the growth line. I mean,
• 1:28
  Speaker 2: not a lot. I mean, but none of the commentary's
• 1:31
  Speaker 2: back that up. We've been miserable all year, allegedly, Which
• 1:34
  Speaker 2: is not to say some aren't still doing it tough.
• 1:37
  Speaker 2: It's not to say it's going to be boon times,
• 1:38
  Speaker 2: just to say there comes a point where the facts,
• 1:41
  Speaker 2: the figures, and the evidence can no longer be denied.
• 1:44
  Speaker 2: Here's my next prediction. As a result of all of this,
• 1:46
  Speaker 2: twenty twenty six might well be a very good year. Indeed,
• 1:48
  Speaker 2: based on the idea that economies are about psychologies. Yes,
• 1:52
  Speaker 2: they're about the fundamentals, but if the fundamentals are in place,
• 1:55
  Speaker 2: the next thing you look for is mood. And given
• 1:58
  Speaker 2: the mood has been so repressed, when we decide to
• 2:00
  Speaker 2: take the handbrake off, there might just be no stopping us.
• 2:03
  Speaker 2: As I said last week. Don't underestimate the Reserve Bank
• 2:06
  Speaker 2: and the finality of that cut. This was it. We've
• 2:09
  Speaker 2: done our job. You are free to go enjoy your life.
• 2:12
  Speaker 2: For those waiting and Dilley deallying, that was what they
• 2:15
  Speaker 2: were waiting for. Next confidence survey will be over one
• 2:18
  Speaker 2: hundred and that will be the start of a trend
• 2:21
  Speaker 2: for the year ahead. Remember where you heard it first.
• 2:24
  Speaker 1: For more from News Talks b listen live on air
• 2:27
  Speaker 1: or online, and keep our shows with you wherever you
• 2:30
  Speaker 1: go with our podcasts on iHeartRadio.