New Zealand Institute of Economic Research (NZIER) Quarterly New Zealand Business Opinion Survey (QSBO)
- Business confidence -25%, previously -2%
- Capacity utilization 90.2%, before 91.4%
NZIER comments (in short, mine in bold):
- The post-election rebound in confidence and business activity seen in the final quarter of last year was short-lived
- net In the March quarter, 24% of businesses expect the general economic outlook to deteriorate over the coming months. After correction for seasonal variations
- net 23 percent of businesses reporting a decline in business in the March quarter
- Overall, the results indicate higher interest rates have the intended effect of dampening demand reduce inflationary pressures in the New Zealand economy.
- Net 20% of financial services companies expect higher interest rates within a year
Lots more at this link above.
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The highly regarded New Zealand Quarterly Business Opinion Survey (QSBO) is conducted by the New Zealand Institute of Economic Research (NZIER) and is one of the country’s longest-running business surveys. It provides an overview of the business climate and economic conditions in New Zealand, as well as the factors that influence the business climate, such as domestic and international economic conditions, government policies and other external events.
- interviews companies from various sectors
- collects data on business confidence, demand, hiring intentions, investment plans and other economic indicators
- QSBO results can vary significantly from quarter to quarter
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