The National Ban’s monthly business outlook survey for May 2005 is out, and it is not pretty.
Economic growth is now projected to crash to 1%.
A net 57% of companies are expecting business conditions to decline and this is spread over all agencies ranging from -46% in retail to -70% in agriculture.
I’ve graphed the series below. It is not just a 17 year low, but almost an all time low. The post 87 crash period is the only lower time.