Business confidence slumps with pinkos in charge

No surprises here:

Business confidence has plunged to a fresh two year low amid political uncertainty.

The ANZ business outlook survey for October showed a net 10 per cent of businesses are pessimistic about the year ahead, meaning more businesses expect general conditions to get worse in the coming year, than the number who expect to see an improvement.

However, the survey does not reflect the business community’s view of the new Government, as most of the responses were collected while coalition negotiations were still ongoing, before the make-up of the new administration was known.

It is the lowest reading in the survey since September 2015 and marks a 10 point fall in a month. The September survey itself marked a sharp fall from August.

“The finger can be pointed at political uncertainty,” ANZ chief economist Cameron Bagrie said.

“[T]his month’s survey primarily covers the uncertainty around the outcome and not the outcome itself. The latter will be next month’s story,” Bagrie.

Yeah, but when your Finance Minister has loose lips expect confidence to drop even further…as we saw the other day when the exchange rate plummetted because of injudicious comments from Robbo.

Pessimists outnumbered optimists across all five sectors in the survey, with agriculture the most downbeat.

Bagrie said the change in Government, while unsettling, offered opportunities.

“Change in itself is not the key issue; how you market it, tell the story and take people along with you is the real challenge.”

BNZ senior economist Craig Ebert said it was not a surprise that confidence had eased given the uncertainty which followed the election however the drop between September and October “was a bigger drop than we might have imagined”.

It will get worse. Watch and see.

 

-Fairfax


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As much at home writing editorials as being the subject of them, Cam has won awards, including the Canon Media Award for his work on the Len Brown/Bevan Chuang story.  And when he’s not creating the news, he tends to be in it, with protagonists using the courts, media and social media to deliver financial as well as death threats.

They say that news is something that someone, somewhere, wants kept quiet.   Cam Slater doesn’t do quiet, and as a result he is a polarising, controversial but highly effective journalist that takes no prisoners.

He is fearless in his pursuit of a story.

Love him or loathe him.  But you can’t ignore him.

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