Confidence among New Zealand businesses tumbled for the first time in seven months in May as they turned gloomy about the global economic climate, particularly the situation in Europe, a key survey revealed Thursday.
The National Bank of New Zealand said a net 27.1 percent of respondents expect business conditions to improve over the coming year. This was lower than 35.8 percent in April. Optimists accounted for 38 percent of responses, and pessimists 11 percent.
Businesses expectations among firms weakened in May with the corresponding indicator falling to 34.9 from 36.1 in April. However, companies remained optimistic regarding their own prospects.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.