New Zealand business confidence drops to seven-month low

A net 14.9% of respondents expect the economy to improve in the next year, down from 22.9% in March. — Bloomberg

WELLINGTON: New Zealand business confidence dropped to a seven-month low in April as high interest rates and a sluggish economy curbed household spending and company profits, according to an ANZ Bank survey.

A net 14.9% of respondents expect the economy to improve in the next year, down from 22.9% in March, the bank said yesterday in Wellington.