New Zealand business sentiment drops amid coronavirus concerns

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New Zealand’s business outlook in January had dropped as the coronavirus outbreak in China and abroad piled on concerns over global economic growth, according to an ANZ Bank survey on Thursday.

The survey showed that a net 19.4% of participants had expected the economy to stagnate during the current year in contrast to the 13.2% from a previous poll late last year.  

Meanwhile, a net 12.0% of participants expected their own businesses to grow by the end of the year which had decreased from a net 17.2% recorded in December.

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