New Zealand business confidence declines, reflecting economic uncertainties and higher interest rates.
New Zealand's business confidence slumped in the first quarter, with the NZ Institute of Economic Research (NZIER) warning of an increased risk of a hard landing for the economy. A net 24% of businesses in the March quarter expect a deterioration in the general economic outlook, while a net 23% reported a decline in activity over the same period. The think tank attributed the pessimism to uncertainty over the new government's priorities and spending plans, as well as higher interest rates.
April 08, 2024
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