New Zealand's business confidence slips in March

[WELLINGTON] New Zealand's business sentiment fell in March as the economy struggled from the lack of tourists and the unsustainable bounce in retail spending started to dissipate, an ANZ Bank survey showed on Wednesday.

The survey's headline measure showed a net 4.1 per cent of respondents expected the economy to deteriorate over the year ahead, versus a 7.0 per cent optimism level in the previous poll in February.

A net 16.6 per cent of respondents expected their own businesses to grow in the next 12 months, versus 21.3 per cent last month.

REUTERS