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NBNZ Business Confidence survey Plummets

Written by Sam Coxhead on March 31st, 2011.      0 comments

3:45 PM (NZT) The latest National Bank of New Zealand Business Confidence survey has plummted 8.7 pts to 25.8 in the wake of the devastating Feb 22nd earthquake in Christchurch. Of note was the "Own expectations" index which saw a drop from 36.6 to 14.7.

Understandably the largest falls were registered in Christchurch, the entire survey was demonstrably weaker across the board. To put the fall in perspective, this is the second largest monthly fall in the surveys hidtory. The largest being in the deep gripe of the Global Financial Crisis in 2008 following the collapse of Lehman Brothers as world wide credit markets ground to a halt.
 

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