NZ Business Confidence Index Plunged After General Election

After the general election in New Zealand, the business confidence in the country has declined to its two-year low which is caused by the fears of manufacturers for a downturn.

Before the voting on September 23, the confidence index fell to zero against 18.3 last month as mentioned by ANZ Bank New Zealand on Tuesday.

More than three months passed after the survey of manufacturing companies issued a pessimistic forecast for business conditions within next year, higher by 2 percent in the earlier poll. Moreover, the sector has the tendency to cut down hiring while respondents are expecting for a lower salary.