WELLINGTON, July 28 (Reuters) – New Zealand business sentiment improved slightly in July but remained gloomy in the face of intense inflation pressures, an ANZ Bank survey showed on Thursday.
The survey's headline measure showed a net 56.7% of respondents expected the economy to deteriorate over the year ahead. That compared with a 62.6% pessimism level in the previous poll in June.
ANZ said in a note that businesses were well aware the Reserve Bank is on a mission to reduce customer demand to curb inflation so it was no surprise they were feeling apprehensive.
A total of 8.7% of respondents expected their own businesses to shrink in the next 12 months, a slight improvement from 9.1% previously.
ANZ said economy-wide inflation pressures remain intense with 91.3% of business expecting costs to rise.
The rate of increase in costs appears to have stabilised, but it remains far too high, the bank added.
It also noted that supply side factors continue to cause headaches, while a severe lack of labour is also hurting businesses.
Our Standards: The Thomson Reuters Trust Principles.
The U.S. economy unexpectedly contracted in the second quarter, with consumer spending growing at its slowest pace in two years and business spending declining, which could fan financial market fears that the economy was already in recession.
Reuters, the news and media division of Thomson Reuters, is the world’s largest multimedia news provider, reaching billions of people worldwide every day. Reuters provides business, financial, national and international news to professionals via desktop terminals, the world's media organizations, industry events and directly to consumers.
Build the strongest argument relying on authoritative content, attorney-editor expertise, and industry defining technology.
The most comprehensive solution to manage all your complex and ever-expanding tax and compliance needs.
The industry leader for online information for tax, accounting and finance professionals.
Access unmatched financial data, news and content in a highly-customised workflow experience on desktop, web and mobile.
Browse an unrivalled portfolio of real-time and historical market data and insights from worldwide sources and experts.
Screen for heightened risk individual and entities globally to help uncover hidden risks in business relationships and human networks.
All quotes delayed a minimum of 15 minutes. See here for a complete list of exchanges and delays.
© 2022 Reuters. All rights reserved


Lascia un commento

Il tuo indirizzo email non sarà pubblicato. I campi obbligatori sono contrassegnati *