New Zealand business confidence drops in August

Credit: REUTERS/DAVID GRAY

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)

((praveen.menon@thomsonreuters.com; +6448028163; Reuters Messaging: praveen.menon.thomsonreuters.com@reuters.net; Twitter: https://twitter.com/Journopraveen))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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