New Zealand Business Confidence Weakens In April


New Zealand business confidence deteriorated in April, survey data from ANZ Bank showed Monday.

The business sentiment index slid to -23.4 in April from -20.0 from March.

Firms' views of their own activity eased to +18 from +22 a month ago.

All sectors were in the red with services the least pessimistic in April. At the same time, construction plummeted to its lowest level since 2008.

Data showed that a net 7 percent of firms were expecting to lift investment, reversing March's lift. Meanwhile, employment intentions eased 1 point to +9 percent.

Profit expectations reversed March's lift, with the score falling to -1 percent from +6. Firms' pricing intentions eased to +22 percent from +29 percent.