Anne Boniface, senior economist at Westpac, notes that the ANZBO measure of business confidence deteriorated further in July for the New Zealand economy and remains at very weak levels. Key Quotes “In addition, there was a further fall in firms’ reports of their own activity which are now back to the lowest levels we’ve seen in almost a year.” “The persistently downbeat attitude of firms has been a feature of the domestic economy this year and today’s survey suggests firms became even more pessimistic in the last month. The fact there was a deterioration in the outlook across almost all components of the survey this month underscores the softness in today’s outturn.” “We expect downbeat business confidence to increasingly weigh on firms’ investment and hiring decisions. Employment intentions in today’s survey moved into negative territory with a net 6% of firms now expecting to cut jobs. Investment intentions also deteriorated this month.” “In short there was nothing in today’s release that will dissuade the RBNZ from cutting the OCR next week. Furthermore, today’s survey supports our view that another rate cut will be required come November.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next Forex Today: Fed set for a historic cut, NFP-leading data, and some stability in Sterling for a change FX Street 4 years Anne Boniface, senior economist at Westpac, notes that the ANZBO measure of business confidence deteriorated further in July for the New Zealand economy and remains at very weak levels. Key Quotes "In addition, there was a further fall in firms' reports of their own activity which are now back to the lowest levels we've seen in almost a year." "The persistently downbeat attitude of firms has been a feature of the domestic economy this year and today's survey suggests firms became even more pessimistic in the last month. The fact there was a deterioration in the outlook across almost all… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
