Economic confidence has edged lower in a monthly survey by BNZ, with many respondents sounding "decidedly downbeat."The survey of readers of the BNZ's Weekly Overview found a net 1% of 565 respondents expected the economy to worsen. That compare
Economic confidence has edged lower in a monthly survey by BNZ, with many respondents sounding "decidedly downbeat."
The survey of readers of the BNZ's Weekly Overview found a net 1% of 565 respondents expected the economy to worsen. That compared with a net 2% expecting improvement in early July.
BNZ chief economist Tony Alexander today said sentiment was above the net 17% pessimistic average reading since 2005.
In that sense the latest survey suggested reasonable business capital spending and employment demand consistent with the economy growing near 3 percent could be anticipated.
"However, as with last month, the tone of the comments submitted by respondents is decidedly downbeat with a number indicating things appear worse than a few months ago, that customers are thin on the ground, and that cost pressures remain quite intense," Mr Alexander said.
Improving conditions were noted in such sectors as manufacturing and recruitment, but they were in the minority.
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