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New Zealand Business Confidence July 2023

New Zealand: Business confidence rises in July

The ANZ business confidence indicator rose to -13 in July from -18 in July, marking the highest reading in nearly two years. That said, confidence remained entrenched below the 0-threshold that separates pessimism from optimism among businesses.

Businesses grew less downbeat with regards to export and employment intentions in July.

Meanwhile, firms’ outlook regarding their own activity—a metric which has a stronger correlation to GDP growth—dipped to 0.8 from 2.7 in the prior month.

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