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Sharon Zollner Chief Economist at ANZ, notes that in the New Zealand’s November ANZ Business Outlook Survey headline business confidence was unchanged with a net 37% of respondents reporting they expect general business conditions to deteriorate in the year ahead.

Key Quotes

“Firms’ perceptions of their own activity rose 1 point to a net 8% expecting a lift. The retail sector continues to bounce back, though it remains the least positive (0%).”

“Construction is now the most optimistic sector for the first time since March, though still well below levels prevailing over 2016-17 (up 22 pts to +22).”