Business is spooked
Business is spooked
30 August 2018
That's according to the latest ANZ economic outlook.
It says business confidence has fallen further this month - dropping by five points - so a net 50 percent of survey respondents expect business conditions to deteriorate in the year ahead.
Chief economist Sharon Zollner warns, if this weakness is sustained, it will not bode well for GDP growth heading into the end of the year.
But she also notes firms' perceptions of their prospects are a much better gauge of economic outcomes.
She says these have stabilised - with a net four percent expecting an improvement.
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