New Zealand's Institute of Economic Research latest survey shows a further deterioration in business confidence

Market news

2 October 2018

New Zealand's Institute of Economic Research latest survey shows a further deterioration in business confidence

The latest NZIER Quarterly Survey of Business Opinion (QSBO) shows a further deterioration in business confidence. A net 28 percent of businesses expect economic conditions to worsen - the lowest level since March 2009.

Firms' own domestic trading activity is a better indicator of GDP growth than business confidence. Firms' own activity for the September quarter and expectations for the next quarter both fell, indicating a slowing in economic growth over the second half of 2018.

A net 0.4 percent of firms reported higher demand over the September quarter - the lowest level since September 2012.

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