New Zealand business sentiment continues to weaken as supply issues dominate

NEW Zealand business sentiment fell again in June as supply-side issues continue to dominate the list of firms’ biggest problems, consistent with inflation pressures that are still intense, an ANZ Bank survey showed on Thursday.

The survey’s headline measure showed a net 62.6 per cent of respondents expected the economy to deteriorate over the year ahead.

That compared with a 55.6 per cent pessimism level in the previous poll in May. A net 9.1 per cent of respondents expected their own businesses to contract in the next 12 months, from a contraction of 4.7 per cent previously. REUTERS