New Zealand ANZ Business Sentiment Rises Less Than Estimated

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New Zealand business sentiment improved less than estimated in June, final data from ANZ showed on Tuesday.

The business confidence index rose to -34.4 in June from -41.8 in May. However, the score was weaker the preliminary estimate of -33.0.

ANZ said a vigorous bounce out of lockdown was evident in the numbers, but the levels were consistent with the assessment that the recession is just starting.

“It is encouraging to see a bounce in sentiment in the retail sector, and these tallies with anecdotes we are hearing about households rushing out to spend the involuntary savings accumulated during lockdown, as well as the money that had been squirreled away, earmarked for an overseas holiday,” ANZ said.

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