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Sharon Zollner, Chief Economist at ANZ, points out that in the October ANZ Business Outlook Survey of New Zealand economy, headline business confidence lifted 1 point to 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 prospects eased 1 point to a net 7% expecting an improvement, a weak level.”

“The retail sector bounced 5 points but remains the least positive (-8%), while manufacturing is now the most optimistic sector (up 9 to +16%), perhaps reflecting the weaker NZD.”