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Bernard Hickey details the key news overnight in 90 seconds at 9am in association with ASB, including news it's September 1 and Spring has sprung, and not just for the weather. Business confidence improved markedly in August, apparently because of the improvement in the housing market.
Businesses' confidence about themselves in a National Bank survey rose to its best level in five years and construction sector confidence rose to its best levels since the early 1990s. Business confidence is a leading indicator of economic activity and this suggests the economy will recover more strongly than some expected, possibly even by 3%.
Meanwhile, the Reserve Bank of Australia may surprise a few people by putting up rates later this afternoon, although most see its rates on hold. If it hikes that will raise expectations of a hike here, but may also drive the NZ dollar down versus the Australian dollar.
Finally, Disney has bought Marvel comics for an eye-popping US$4 billion. This combines Mickey Mouse, Nemo and X-men in one studio.
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