The New Zealand Institute of Economic Research (NZIER) Quarterly Survey of Business Opinion (QSBO).
Business confidence improved a little but is still deeply negative
53% of businesses expect a worsening in general economic conditions over the coming months
- was -63% in Q2
Main points from the NZIER report:
- Demand remains soft
- sharp easing in labour shortages
- These developments suggest that higher interest rates are starting to dampen demand in the New Zealand economy
- easing in capacity pressures more broadly
- Pricing pressures have eased while cost pressures remain intense
NZD/USD is barely changed on the report:
![nzdusd nzier qsbo 03 October 2023](https://images.forexlive.com/images/nzdusd%20nzier%20qsbo%2003%20October%202023_id_503ea7d6-24f9-451d-8122-631d8a7f7071_size900.jpg)