Covid-19 smashes business confidence

Tue, 31 Mar 2020

Covid-19 took a sledgehammer to business confidence, with local firms the gloomiest they have ever been in ANZ Bank’s latest survey.A net 26.7 percent of firms expect weaker activity for their own business, the lowest reading since the survey began in 1988 and down from 12 percent who had expected an improvement in the prior survey.“We’re on a very steep slide indeed,” said ANZ Chief Economist, Sharon Zollner.The final result was worse than the flash reading the bank gave earlier this month which had indicated 12.8 percent thought things were a...

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