Business confidence still falling

Business confidence fell eight points to 15 in the latest ANZ NZ Business Outlook survey as cost pressures continue to bite. According to Westpac Bank senior economist Satish Ranchhod, a net 20% of firms reported their trading activity has declined over the past year. “That’s the lowest we’ve seen since the pandemic.”Ranchhod also said there has been a widespread fall in the number of businesses that expect their trading activity to improve over the coming months. The weakness in activity, howeve...