NZIER's QSBO shows deterioration in demand and sentiment
02 July 2019
The latest NZIER Quarterly Survey of Business Opinion (QSBO) shows business confidence fell to its lowest level since March 2009, with a net 31 percent of businesses expecting a deterioration in general economic conditions over the coming months.
Adding to the negative news was a further decline in firms’ own trading activity, with a net 4 percent of businesses reporting reduced demand in the June quarter. A net 4 percent of businesses also expect demand to fall in the next quarter – the weakest level since June 2009. These measures suggest a softening in annual GDP growth to below 2 percent over the second half of 2019.
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