Mood of the nation: it's gloomy out there

Fewer New Zealanders think it's a good time to buy a household item. (Image: Getty)

Fri, 07 Oct 2022

Jobs are plentiful and businesses have reported that activity in the third quarter of 2022 was solid. Despite this, there is a strong sense of foreboding about the economic outlook in New Zealand.Business and consumer confidence is now at similar levels to the beginning of the pandemic, when there was widespread expectation of a prolonged recession.Now the dark clouds looming are inflation and higher interest rates. Business and consumer confidence has been ebbing away ever since these first came on to the horizon in mid-2021.That pessimis...

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