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Financial News: New Zealand Business Confidence Weakens In Q4

New Zealand Business Confidence Weakens In Q4

01/16/2018 - 00:42:00 (RTTNews)

(RTTNews) - New Zealand business confidence deteriorated in the fourth quarter, quarterly survey data from the New Zealand Institute of Economic Research showed Tuesday.

A net 11 percent of businesses expect economic conditions to deteriorate over the first half of 2018. Confidence had also decreased in the previous quarter ahead of the General Election.

The institute said it appears uncertainty over new Government policies have made businesses even more downbeat.

The decline is more moderate when it comes to businesses' own demand. Businesses may be worried about the outlook for the New Zealand economy under the new Labour-led Government, but for now this is not reflected in demand in their own business, the institute said.

The decline in business confidence is broad-based across the sectors, with retailers and manufacturers particularly downbeat.

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