NZ data - NZIER Quarterly Survey of Business Opinion: - sharp drop in business activity

Author: Eamonn Sheridan | Category: News

New Zealand Institute of Economic Research QSBO survey was conducted over the main period of the COVID-19 lockdown.

Confidence -63%
  •  (prior -70%)
Main points, in summary:
  • economic activity dropped sharply in the June quarter
  • net 37 percent of businesses reporting a decline in own trading activity, measure to the lowest level since March 2009
  • net 25 percent of businesses also expect weaker demand in the next quarter
  • a slight improvement in headline business confidence
  • net 19 percent of businesses reduced staff numbers in the June quarter, and a net 28 percent expect to in the next quarter
  • net 36 percent planning to reduce investment in both buildings and plant and machinery over the coming year

While the full report is only available to NZIER subscribers/members there is a media release  available here 

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