NZ businesses remained downbeat about the economy in Q4 2018, but less so

The New Zealand Institute of Economic Research with their latest Quarterly Survey of Business Opinion

Some highlights:

• businesses remained downbeat about the economy in the final quarter of 2018, but less so.
• net 18 percent of businesses expecting general economic conditions to worsen over the coming months (from 28 percent in the previous quarter)
• businesses reported a lift in demand in the December 2018 quarter
• a rebound in hiring in the December quarter, while hiring intentions for the next quarter remain positive
• Firms are also looking to increase new investment in plant and machinery over the coming year, … more cautious when it comes to new investment in buildings
• Businesses are facing rising cost pressures, and continue to find it difficult to pass these cost increases onto customers in the form of higher prices … affecting profitability negatively

The full QSBO can found here (it is gated, but the folks at NZIER have a good summary here, recommended for NZD traders interested in background on the NZ economy)