Confidence amongst Kiwi firms has slumped to levels not seen since the Global Financial Crisis.
Source: 1 NEWS
The ANZ Business confidence survey out today shows a net 39 per cent of businesses are pessimistic about the year ahead.
That amounts to a decline of 29 points on the previous month, and is the lowest level since 2009.
"Uncertainty around changing Government policy, a softer housing market, and difficulty getting credit are likely culprits," ANZ Chief Economist Sharon Zollner said.
Ms Zollner says the survey is the first received after the final government make-up was decided.
However she says it would too simplistic to ascribe the full move to the change of government.
She says there is a lot else going on, with softening housing prices one factor that should not be overlooked.