A blow for Kiwi business confidence, which has slumped to its lowest level since the post-2020 Covid lockdown lows. 

The Westpac-McDermott Miller index shows despite the weaker overall result, confidence has only fallen in four of 11 regions. 

That includes the biggest job market -- Auckland -- which dominated the national average. 

CV.co.nz Managing Director, Tom O'Neil told Andrew Dickens he reckons it's partially due to looming American tariffs. 

He believes there's been a massive hangover encapsulating all the difficulties New Zealand's faced since 2020. 

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