NZ Business Confidence Stayed near 8-year lows

The business sentiment in New Zealand remained near the eight-year depression in December, which caused uncertainty towards policy direction led by the new labour government based on the survey presented by the ANZ Bank.

The headline measure of the survey indicates a net 37.8 percent of respondents who expect the economy will weaken in the upcoming year. This is compared with previous poll’s pessimism level of 39.3 percent, which is the lowest recorded since the global economic crisis.

The latest ANZ business survey is the second poll that included companies reactions towards the new Labour-led administration, which take control towards the end of October and almost completed a decade ruling of center-right National Party.

On the positive note, the companies projection for their respective business is an increase for 2018 with net 15.6 percent of respondents higher versus  6.5 percent last month.