ANZ released their latest business survey and it's showcasing a bleaker look at the economy than in previous years. 

The survey states that the expected own activity outlook is at its' lowest level since September 2020 and that employment intentions have dropped down to negative for the first time since October 2020.

There is also a broad weakness across various industries, especially construction and agriculture.

According to Milford Asset Management's Mark Riggall, the outlook for businesses next year has deteriorated sharply with the expected recession.

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