The latest unemployment data showing the jobless rate falling to under 4% follows the equally bad 1.0% economic growth in the September quarter and a budget surplus of $5.5b, confirming the economy is going down like Donald Trump, as predicted by the ANZ Bank’s business confidence survey
ANZ Bank’s Outlook business confidence survey has been forecasting gloom and doom for the economy ever since the surprise election result turfed out the National Party. Today’s GDP data showed the economy has actually been pumping along faster than the Reserve Bank believes is good for it.
In The Herald: “Fear of a Labour/Green Government in the business community is well gone, says SkyCity chairman-elect Rob Campbell”, “Business doesn’t necessarily do better under National led Governments”.
The ANZ survey shows business confidence at the lowest levels since the financial crisis. Yesterday John Key insisted that it was “reasonably positive”. He was either completely wrong or lying through his teeth. Either way it’s unacceptable.
You’d think if the Nats could convince anyone that they knew what they were doing it would be the business community. But no, less than 35% of business owners think that the government has a plan…
At this time in our history we need government leadership like we have never needed it before. But the signs aren’t good. Christchurch is a city on the edge, and round the country business confidence is plummeting.
