NZ business confidence drops 9% on higher interest rates and falling dairy prices

Wed, 28 May 2014

By Suze Metherell May,28 (BusinessDesk) - New Zealand business confidence extended its slide from a record high to a third month, in the face of rising interest rates, declining dairy prices and a persistently high kiwi dollar. A net 53.5 percent of firms are optimistic about general business conditions this month, down from 64.8 percent in April and a 20-year high of 70.8 percent in February, according to the ANZ Business Outlook survey. "Economic momentum is clearly easing," said Cameron Bagrie, chief economist at ANZ Bank New Zealan...

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