Business confidence survey records record low – ANZ

The latest ANZ business survey shows an increasingly pessimistic economic outlook. (Image: ANZ)

Tue, 20 Dec 2022

The Reserve Bank of New Zealand has achieved shock value with its latest official cash rate (OCR) hike, with business confidence plummeting to a record low. A net 70% of businesses responding to the December ANZ business outlook survey said they believed economic conditions would worsen over the next 12 months, versus 57.1% who were negative last month. When asked about expectations for their own activity, a net 25.6% believed their activity would decrease, versus 13.7% in November. The December level was similar to the global financi...

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