The latest NZIER Quarterly Survey of Business Opinion (QSBO), some comments from the NZIER:
- responses received up to 20 March 2020 - just prior to the announcement by the Government of the Alert Level 4 lockdown across the country.
- It thus gives us at least a partial glimpse into how firms think COVID-19 will impact them and the economy.
- sharp decline in business confidence
- net 67 percent of businesses expecting a deterioration in general economic conditions
- A net 11 percent reported weaker demand in their own business in the March quarter, but a net 13 percent expected weaker demand in the next quarter - a marked turnaround from the 5 percent of businesses who had expected an improvement in demand in the previous quarter.
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New Zealand Institute of Economic Research Quarterly Survey of Business Opinion
of around 4,300 firms
- about whether business conditions will deteriorate, stay the same, or improve.