Gathering clouds

Business confidence weakens once more

(I don't get too excited by the business page in the Times but today I'm having a shot at being business savvy).

BUSINESS confidence fell for the third month in row in the latest National bank business outlook report, pointing to growth slowing.

(For the ordinary New Zealand who is not focused on business matters, this news seems at odds with what the likes of Bill English and John Key are saying to us.)

National Bank economists said there was now a clear change in direction and weakness in confidence was broad-based.

(I guess we'll just have to wait and see - we'll know for sure when interest rates go up!)