New Zealand Business Confidence At 2-Year Low: ANZ – Markets Insider

This Article Was Originally From This Site

(RTTNews) – Business confidence in New Zealand weakened to the lowest level in two years in September amid political uncertainty, the latest survey from ANZ Bank showed Tuesday.

The business confidence index plunged to 0.0 in September from 18.3 in August. Moreover, this was the lowest level since September 2015.

Among components, activity, employment and investment expectations all remained at healthy levels, though peaks had pared back.

“Some of the paring back may reflect a maturing business expansion, but we’re more inclined to put the move down to political uncertainty,” Cameron Bagrie, chief economist at ANZ Bank, said.

The survey was taken in early September, before the election took place.

Activity outlook also dropped to 29.6 in September from 18.3 in the preceding month.

This Article Was Originally From *This Site*