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Amid 'Jacindamania,' New Zealand businesses' pessimism may hurt growth

Reuters  |  WELLINGTON 

By Charlotte GreenfieldWELLINGTON (Reuters) - New Zealand's youngest-ever prime minister, Jacinda Ardern, has seen her popularity soar at home and abroad, but now must deal with a growing economic problem as gloomy business confidence heads in the opposite direction.Companies say measures such as a 5 percent increase in the minimum wage, a looming ban on foreign homebuyers and lingering red tape around immigration in the midst of a skills shortage are increasing costs and forcing delays to investment.Business confidence is at its lowest in seven years, and has been in free-fall since Ardern ...

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First Published: Tue, July 10 2018. 11:38 IST
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