Recession ahead? Business confidence tanks

Retailers are most worried about what the future holds. (Image: Getty)

Mon, 28 Feb 2022

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...

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