New Zealand business confidence fell this month, while holding at reasonably upbeat levels, continuing a monthly see-saw in the sentiment in an economy that's only recording tepid growth.
A net 23 per cent of respondents in the ANZ Bank Business Outlook expect general business conditions to improve in the year ahead, down from 26 per cent in the previous month's survey. Those expecting a better 12 months out of their own businesses slipped to 31 per cent from 32 per cent.
The survey results come after government figures showed the economy grew 0.2 per cent in the third quarter - half the expected pace, with increased construction activity helping maintain the expansion.
The Business Outlook shows residential and commercial construction investment intentions were again the strongest in the survey at 32 per cent and 33 per cent respectively, little changed from the previous month.
Construction was also the sector with the strongest hiring intentions, at 21 per cent, helping lift overall employment intentions to 7.9 per cent from 6.3 per cent.