New Zealand business confidence deteriorated to the lowest since April 2008, business outlook survey data from ANZ showed Thursday. The headline business confidence index dropped 8 points in August. A net 52 percent of respondents expect general business conditions to deteriorate in the year ahead.
Further, firms' expectations for their own activity over the year ahead fell 6 points to -1, the lowest score since April 2009.
The survey showed that most of the indicators declined in August to even weaker levels.
Employment intentions and profit expectations dropped 3 points and 4 points, respectively, to the lowest since mid-2009 levels.
Inflation expectations fell to 1.70 percent, the lowest since late 2016, from 1.81 percent.
The ANZ said the outlook for the economy appears to be deteriorating further, with firms extremely downbeat despite easier monetary conditions, fairly robust commodity prices, and positive population growth.
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2142188/
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