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New Zealand business confidence improved in May, the final business outlook survey data from the ANZ Bank showed Thursday.
The business confidence index rose to -41.8 in May from -66.6 in April. The flash score was -45.6.
The full-month May survey showed small further lifts in most indicators versus the preliminary results as the country continued to make good progress on beating back Covid-19 and loosening restrictions on economic activity.
However, the ANZ said the business outlook activity indicators are improving painfully slowly. The levels of the indicators remained pretty bleak, the survey showed.
Further, the ANZ said the recession is just starting to make itself felt.
