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New Zealand ANZ Business Confidence Weakens Further

(RTTNews) – New Zealand business confidence weakened further at the end of the year, survey results from ANZ showed on Friday.

The business sentiment index fell to -23.2 in December from -16.4 in the previous month.

The survey respondents said finding labor remains firms’ biggest problem, and is getting worse, while freight disruptions are also having a growing impact.

Expected own activity, export intentions, investment intentions, commercial construction intentions, employment intentions, and profit expectations all slipped further but remained at respectable levels, ANZ said.

Inflation expectations continued to rise, while cost expectations and pricing intentions bounce about at very high levels.

Respondents noted that supply-side problems are not going away any time soon. And they are inflationary.

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