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New Zealand business confidence weakens in November: ANZ survey

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Published Wed, Nov 30, 2022 · 08:42 AM
    • The survey’s headline measure showed a net 57.1 per cent of respondents expected the economy to deteriorate over the year ahead, versus a 42.7 per cent pessimism level in the previous poll in October.
    • The survey’s headline measure showed a net 57.1 per cent of respondents expected the economy to deteriorate over the year ahead, versus a 42.7 per cent pessimism level in the previous poll in October. PHOTO: REUTERS

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    NEW Zealand’s business confidence weakened in November, falling 14 points against the previous month, amid intense inflationary pressures, an ANZ Bank survey showed on Wednesday.

    The survey’s headline measure showed a net 57.1 per cent of respondents expected the economy to deteriorate over the year ahead, versus a 42.7 per cent pessimism level in the previous poll in October. A net 13.7 per cent of respondents expected their own businesses to shrink in the next 12 months, only 8 points shy of 2009 lows, versus a contraction of 2.5 per cent last month. Employment intentions were negative for the first time since October 2020, the survey showed. REUTERS

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