New Zealand business sentiment worst since 1961: survey

STORY: New Zealand business sentiment worst since 1961: survey DATELINE: Jan. 20, 2023 LENGTH: 00:02:05 LOCATION: Wellington CATEGORY: ECONOMY SHOTLIST: 1. various of traffic, office buildings, companies, manufacturing and products in market in New Zealand STORYLINE: New Zealand companies have shown "the weakest" confidence since 1961 as they prepare for tough times ahead due to deteriorating labor shortage and hiking interest rates. The latest New Zealand Institute of Economic Research (NZIER) Quarterly Survey of Business Opinion, which was published on Tuesday, showed a deterioration in business sentiment and activity. A net 73 percent of businesses expect general economic conditions to deteriorate over the coming months, the weakest over the survey's history, according to the survey conducted from Nov. 28, 2022 to Jan. 9, 2023. The survey reflected the effects of the more stringent monetary policy in November when the Reserve Bank of New Zealand indicated that it would take interest rates higher than

New Zealand faces weaker economic outlook as high inflation, interest rates continue: forecast

STORY: New Zealand faces weaker economic outlook as high inflation, interest rates continue: forecast DATELINE: Sept. 13, 2022 LENGTH: 00:01:16 LOCATION: Wellington CATEGORY: ECONOMY SHOTLIST: 1. various of Wellington 2. various of a supermarket 3. various of a gas station STORYLINE: A latest forecast showed expectations of weaker activities across most sectors in New Zealand in 2023 and higher inflation and interest rates. Added to this are the continued global supply chain disruptions due to ongoing uncertainty about the COVID-19 pandemic, the regional conflict and signs of slowing global growth, according to the forecast by the New Zealand Institute of Economic Research (NZIER) released on Monday. Despite a stronger starting point for household spending, the downward revision through to 2025 reflects the expectation that the dampening effect of higher interest rates on spending will become more apparent as households roll into much higher fixed mortgage rates, the forecast said. The residential inve