Economic Buzz: New Zealand ANZ Business Confidence Falls In November

30 Nov 2022 , 12:51 PM

New Zealand business confidence weakened notably in November amid acute inflationary pressures, survey results from ANZ showed. The business sentiment index fell to -57.1 in November from -42.7 in the previous month. The index measuring firms expected activity fell 11 points from October to -14 in November, and residential construction intentions plummeted to a fresh record low. Employment intentions were negative for the first time since Oct 2020, as the respective index fell to -4 from 5. Inflation expectations rose to a fresh record high of 6.39 percent in November from 6.13 percent in the prior month. Powered by Commodity Insights