ANZ's Business Outlook Survey is a monthly survey of around 1,500 businesses NZ-wide
Activity outlook +3.8
- prior 3.8
Business confidence -50.3 and another awful result, now to a new 10 year low
- prior -44.9
NZD has dropped under 0.6700.
Lower business confidence is being blamed on the governments new employment laws. I don't know how much faith to out in that explanation, but the government is trying to address low confidence: More from NZ PM Ardern - how she is combating sad business sentiment).
Employment and investment intentions reported by businesses are now negative too
The weakness is not a positive for growth ahead. Eyes on the economy now, its been a little softer and that looks like worsening ahead.
Whatever explanation you choose for it … a negative input for the NZD.