COUNTIF to show Blank if Zero

I am using the below formula:

=IF(COUNTIFS('New In'!F:F,YTD!$A2,'New In'!B:B,YTD!$P$217)=0,"",COUNTIFS('New In'!F:F,YTD!$A2,'New In'!B:B,YTD!$P$217))

what it needs to do is show a blank if the result is zero - It does work, to an extent - If the result is zero, it shows a blank. However, if the cell value is greater than zero, it shows a circular reference error.

Any ideas whats happened?