Business confidence in New Zealand weakened to the lowest level in two years in September amid political uncertainty, according to the latest survey, taken in early September, from ANZ Bank.
The business confidence index plunged to 0.0 in September from 18.3 in August. Moreover, this was the lowest level since September 2015.
Among components, activity, employment and investment expectations all remained at healthy levels, though peaks had pared back.
According to Cameron Bagrie, chief economist at ANZ Bank,"some of the paring back may reflect a maturing business expansion, but we're more inclined to put the move down to political uncertainty". Activity outlook also dropped to 29.6 this month from 18.3 in the preceding month.