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New Zealand: Business confidence is unchanged in September
Latest reading: Business confidence held steady in September, with a net 50% of firms anticipating improved conditions, while expected own activity climbed 4 points to 43%, the strongest reading in five months. Past own activity also rose 4 points to +5, and past employment nudged up 1 point to -11.
Reported past activity—the survey’s best gauge of GDP—showed brighter signs in retail, though construction is still facing heavy strain. Reported past employment stayed negative across all sectors except agriculture, though the downturn appears to be stabilizing.
