New Zealand business confidence 7.1% in Feb vs 23% in previous survey: ANZ Bank

[WELLINGTON] New Zealand business sentiment fell in February, an ANZ Bank survey showed on Monday.

The survey's headline measure showed a net 7.1 per cent of respondents are optimistic about the general economy over the year ahead. It compared with 23.0 per cent in the prior survey in January.

A net 25.5 per cent of respondents expected their own businesses to grow in the next 12 months, from 34.4 per cent last month.

Inflation expectations eased to 1.39 per cent versus 1.64 in the prior survey.

ANZ Chief Economist Cameron Bagrie said the waning sentiment is largely due to "global unease." "The New Zealand economy is not immune from global pressures. We are a small, commodity dependent, debtor nation," he said.

REUTERS