Flat, despite earthquake disruption - Quarterly Survey of Business Opinion, April 2011
05 April 2011
NZIER’s Quarterly Survey of Business Opinion (QSBO) shows flat economic activity in the March 2011 quarter, despite significant localised disruption following the Canterbury earthquake. Firms’ experienced trading activity eased from -1% to -5% on a seasonally adjusted basis.
“Economic and employment conditions are stable outside of Canterbury, but there are some warning signs. Profitability is being eroded by rising costs while prices are restrained by weak demand. This is limiting new investment and the recovery. Rising overdue debtors, increasing inventories and barely any recovery for small firms suggest the economy is still fragile,” said Shamubeel Eaqub, Principal Economist at NZIER. Full results are available to NZIER members.
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