Source: New Zealand Institute of Economic Research
01 October 2019
The latest NZIER Quarterly Survey of Business Opinion (QSBO) shows a further drop in business confidence in the September quarter. A net 35 percent of businesses expect a worsening in general economic conditions – still the weakest level since March 2009.
There was also a decline in firms’ own trading activity, which is a better indicator of demand in the New Zealand economy. The net 11 percent of businesses reporting demand fell over the quarter brings this measure to its weakest level since September 2010. The result suggests annual GDP growth will ease below 1 percent later this year.
This publication is only available to NZIER members. The media release can be read here.