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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

    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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