Business confidence dire in June

The NZ dollar fell below 62 US cents after the weak confidence reading. (Image: Unsplash)

Thu, 30 Jun 2022

Firms are increasingly pessimistic about the outlook for activity and profitability, with supply-side issues dominating the list of biggest problems.A net 62.6% of respondents said they expected economic conditions to worsen over the next 12 months, versus a net 55.6% that were negative in May, in the latest ANZ Business Outlook.When asked about expectations for their own activity, a net 9.1% expect their businesses to experience a decline over the next 12 months, versus a net 4.7% that were negative in May.Investment intentions slipped with a...

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