Brief lull in Middle East war pushed up New Zealand business confidence
A brief lull in the Middle East war pushed up business confidence in New Zealand, according to a new survey. But uncertainty continues to weigh on firms' expectations for the economy.
A brief lull in the Middle East war pushed up business confidence in New Zealand, according to a new survey. The survey showed a modest improvement in firms' overall sentiment about the economic outlook.
However, the survey's authors said uncertainty persists and firms' expectations for the economy remain under pressure. They noted confidence could weaken again if the conflict flares up further.
Economists said business confidence data is among the indicators factored into the central bank's interest-rate assessments, though global developments could still overshadow the domestic outlook.
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