Business confidence in New Zealand improved modestly in July, ending the downward trend seen in recent months, data from a survey by the National Bank showed Tuesday.
The business confidence index increased to 15.1 in July from 12.6 in June, which indicate that firms expect business conditions to improve over the year ahead.
Marginal improvements were recorded across some of the components. The activity outlook index advanced to 24 from 20.8 in the preceding month.
Employment and investment intentions nudged higher, while the relevant sub-index for exports decreased to 9.1.
Residential investment intentions were basically unchanged from the previous month in July, while commercial construction intentions pared back. The construction sector showed the greatest deterioration in confidence, data showed.
by RTT Staff Writer
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