ANZ Bank released its latest business sentiment survey for New Zealand on Monday. The ANZ business confidence index for New Zealand slid to7.1% in January from 23.0% in December. The index means that 7.1% of respondents expected the country's economy to improve over the coming year.

"The New Zealand economy is not immune from global pressures. We are a small, commodity dependent, debtor nation," the ANZ Chief Economist Cameron Bagrie said.