The New Zealand Institute of Economic Research Business survey for the January to March quarter of 2018
Well, that is not much confidence improvement at all.... in fact its a further slide, just not as much as the prior quarter.
More:
- net 9% of businesses expect worsening economic conditions over the coming months (11% previous quarter)
- Domestic trading index improves to +15 (firms reporting a lift in demand in their own business), from +10 the previous quarter
Comments from NZIER:
- businesses continue to expect a deterioration in economic conditions over the coming months
- continued pessimism about the economy remains in contrast to firms' expectations about demand in their own business, which continues to hold up
NZIER cite:
- Weak profitability
- higher labour costs
- businesses are not optimistic this will improve
- Cost pressures have intensified, and businesses have not been able to fully pass these on in the form of price increases
- Confidence in the retail sector has been particularly weak since the new Government took office
NZD is down a few tics, not much in it at all:
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For background on this, check out the preview posted earlier here: