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New Zealand Business Confidence Weakens In February

New Zealand business sentiment weakened in February, survey results from ANZ showed on Thursday.

The business confidence index fell to 7.0 in February from 9.4 in December. The score was revised down sharply from 11.8.

The firms' own activity outlook dropped to 21.3 percent from 21.7 in the prior survey. The flash score was 22.3.

ANZ said most indicators were slightly lower than their preliminary readings, likely influenced by the snap lockdown.

Nonetheless, the levels remained solid and consistent with the view that the economy will go through a flatter period this year as the real costs of pandemic and the closed border start to be more broadly felt.

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