News: NZ business confidence drops in July - ANZ bank

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    WELLINGTON, July 31 (Reuters) - New Zealand business sentiment fell in July thanks to a regular winter blip, an ANZ Bank monthly survey showed on Monday.

    The survey's headline measure showed a net 19.4 percent of respondents expected the economy to improve over the year ahead, compared with a 24.8 percent optimism level in the previous poll.

    ANZ economists said the Pacific nation's colder months usually coincided with a drop in confidence. Rising construction costs and labour skill shortages also curbed optimism, while a recovery in dairy prices provided support.

    A net 40.3 percent of respondents expected their own businesses to grow in the next 12 months, from 42.8 percent last month.

 
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