NZ: Headline business confidence fell a further 5 points in August - ANZ

Sharon Zollner, Chief Economist at ANZ, notes that New Zealand’s headline business confidence fell a further 5 points in August, but firms’ views of their own activity were steady.

Key Quotes

“Manufacturing is now the least confident sector – likely a lagged impact from construction sector woes. The services sector is the most optimistic.”

“Activity sub-indicators remain weak. This month we take a closer look at the implications of weak investment and employment intentions, and conclude the threat to near-term activity is real.”