INDEPENDENT NEWS

ANZ Business Outlook: Spooked

Published: Thu 30 Aug 2018 01:57 PM
SPOOKED
SUMMARY
• Headline business confidence fell a further 5 points in August, but firms’ views of their own activity were steady.
• 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.
In the August ANZ Business Outlook Survey headline business confidence dropped a further 5 points to a net 50% of respondents reporting they expect general business conditions to deteriorate in the year ahead.
However, firms’ perceptions of their own prospects are a much better gauge of actual economic outcomes. This series stabilised at a net 4% expecting an improvement, well below the long-term average of +27%. By industry, manufacturers’ expectations dropped 11 points to become the least positive about their own activity (-4%), while retail and services improved somewhat.
Full report: ANZBusinessOutlook20180830.pdf
ANZ Bank
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We're passionate about helping our customers follow their unique goals and dreams. Whether it's travelling the world, buying a home, building a business, investing for the future or protecting their family's future, we use our financial strength and expertise to help make it happen.
Through our sponsorships, our Staff Foundation and thousands of staff volunteer hours each year, we support causes that make a difference to New Zealanders.
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