In New Zealand this morning, New Zealand business sentiment declined slightly in March, ANZ Bank reported Friday.
The headline figure from ANZ Bank’s business outlook survey showed a net 11% of respondents expected the economy to improve over the next 12 months, down slightly form an 11.3% optimism level in the March poll.
Released on a monthly basis, ANZ’s business outlook survey is based on consultations with 1,500 businesses nationwide.
Business confidence has been on a gradual decline since last September. The economy ran into a rough patch at the end of 2016, with GDP accelerating at the slowest pace since 2015. The weakness was attributed to declines in agriculture and manufacturing.
The New Zealand dollar was little change against its U.S. counterpart following the early afternoon data release. The kiwi dollar was last seen below 0.6900 U.S., its lowest in nearly eight weeks.
The New Zealand government reported an 11% pickup in exports last month, the biggest gain in two years. Exports reached a seasonally adjusted $4.65 billion in March compared with the same month a year earlier. That was the highest monthly level since March 2015.