Wednesday, June 4, 2008

Confidence up again in NZ, survey shows

The findings of a Bank of New Zealand survey, released today, show that the outlook for business has improved for the third month in a row.

A net 30 percent of businesses surveyed said they expected the economy to worsen in the year ahead. There has thus been a steady improvement since March, when a net 62 percent expected worse times. But many sectors of the economy remain gloomy, especially the building sector.

The survey results follow the personal tax cuts announced in the national Budget on May 22.

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