New Zealand: Business sentiment eases in May
Business sentiment came in at 11.2 in May, down from April’s 14.9. May’s result marked the weakest since September 2023.
May saw weaker sentiment regarding firms’ future activity, exports, investment and employment, among other subsectors. More positively, inflation expectations fell. Reported past activity—which has the strongest correlation with GDP—remained weak at -18.4, suggesting subdued economic activity in Q2.