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WELLINGTON, March 31 (Reuters) - New Zealand business sentiment dropped in March, hit by the downturn in dairy prices, an ANZ Bank survey showed on Friday.
The survey's headline measure showed a net 11.3 percent of respondents expected the economy to improve over the year ahead, versus a 16.6 percent optimism level in the previous poll.
Nonetheless, a net 38.8 percent of respondents expected their own businesses to grow in the next 12 months, up from 37.2 percent last month.
Inflation expectations on a 12-month horizon rose to 1.83 percent compared with 1.73 percent in the previous survey. (Reporting by Charlotte Greenfield; Editing by Eric Meijer)