New Zealand business confidence drops in August


WELLINGTON, Aug 31 (Reuters) - New Zealand business sentiment fell in August, with many activity indicators including own activity and investment intentions, easing even before a COVID-19 lockdown was enforced across the country, an ANZ Bank survey showed on Tuesday.

The survey's headline measure showed a net 14.2% of respondents expected the economy to deteriorate over the year ahead. That compared with a 3.8% pessimism level in the previous poll in July.

A net 19.2% of respondents expected their own businesses to grow in the next 12 months, dropping from 26.3% last month.

(Reporting by Praveen Menon; Editing by Tom Hogue)

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