Businesses start 2016 in a more downbeat mood - Quarterly Survey of Business Opinion, April 2016

05 April 2016

The latest NZIER Quarterly Survey of Business Opinion shows business confidence dropped in the first quarter of 2016, with a net 1% of businesses expecting a deterioration in the economy in the next six months.

A key driver of this gloominess is that firms have consistently had their expectations of a pick-up in sales dashed in reality. Their optimism is starting to wane – firms now see weak demand ahead. Only a net 6% of businesses expect an improvement in demand – the lowest level since early 2011. Even the retail and services sectors, which has seen solid demand over 2015, are bracing for some softening in sales.

The full media release can be read here.

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