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
Get on top of your money
ANZ has been helping New Zealanders get on top of their money ever since we opened for business in 1840. We were New Zealand's first bank and today we have a large network of full-service branches and ATMs, and talented people across the country.
We're passionate about helping our customers make their money work harder and equipping them to make better financial decisions. 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.
Contact ANZ Bank
Phone:
0800 269 296

Next in Business, Science, and Tech

NZ dollar jumps a cent as Reserve Bank wrong-foots traders
By: BusinessDesk
Four endangered sea lions dead in nets in one week
By: Forest And Bird
Falling battery costs may outstrip Transpower projections
By: BusinessDesk
SAFE applauds Government decision to cancel Saudi sheep deal
By: SAFE For Animals
Official Cash Rate unchanged at 1.75 percent
By: Reserve Bank
Orr dovish but not as dovish as the market expected
By: BusinessDesk
Reserve Bank pushes out the likely date of next OCR move
By: BusinessDesk
RBNZ capital plan could see real-time bank stress test: KPMG
By: BusinessDesk
Inflation expectations ease in Reserve Bank survey
By: BusinessDesk
Wages rising faster than house price rises
By: New Zealand Government
Further evidence of weakening economic outlook
By: New Zealand National Party
RBNZ bets against Labour’s economy
By: ACT New Zealand
RBNZ: KiwiBuild won’t contribute to housing stock in 2019
By: ACT New Zealand
Sea lion captures in the southern squid fishery
By: Fisheries New Zealand
View as: DESKTOP | MOBILEWe're in BETA! Send Feedback © Scoop Media