Recession ahead? Business confidence tanks

Recession ahead? Business confidence tanks
Retailers are most worried about what the future holds. (Image: Getty)
Staff reporters
The ANZ Bank has recorded a very sharp slump in business sentiment in response to the turmoil expected from the omicron outbreak and is warning that avoiding a recession looks “increasingly difficult” because of spiralling inflation.The bank’s February New Zealand Business Outlook describes business confidence as “tanking”, compared to December, although as is often the case, firms’ outlook for the economy as a whole is much worse than expectations for their own business.Headline business confidence was &ldqu...

More Economy

RBNZ assistant governor resigns
Economy

RBNZ assistant governor resigns

The announcement comes just weeks after governor Adrian Orr suddenly quit.

John Anthony 17 Apr 2025
Annual inflation lifted 2.5% in the first quarter
Economy

Annual inflation lifted 2.5% in the first quarter

The lift was a tad higher than RBNZ forecasts. 

Staff reporters 17 Apr 2025
Slight inflation lift won't stop rate cuts thanks to trade war
Economy

Slight inflation lift won't stop rate cuts thanks to trade war

Most economists expect annual inflation lifted to 2.4% in 1Q.

Rebecca Howard 17 Apr 2025
TTR files fast-track application to mine Taranaki sand
Primary Sector

TTR files fast-track application to mine Taranaki sand

Seabed mining firm Trans-Tasman Resources has lodged its application to fast-track its project to harvest iron sands off the coast of Taranaki. The firm's parent company, Manuka Resources, told the Australian Securities Exchange (NZX) on Wednesday that the application was lod...

Staff reporters 16 Apr 2025