Economy

Business confidence dire in June

Rebecca Howard
Thu, 30 Jun 2022

Business confidence dire in June
The NZ dollar fell below 62 US cents after the weak confidence reading. (Image: Unsplash)
Rebecca Howard
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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