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: