New Zealand data - the latest NZIER Quarterly Survey of Business Opinion (QSBO
Some of the key points made by NZIER from the survey data:
- net 16 percent of businesses expect a deterioration in general economic conditions over the coming months, on a seasonally adjusted basis – lower than the 38 percent in the previous quarter, and well below the 68 percent of businesses feeling pessimistic in March 2020.
- firms’ own trading activity, a net 1 percent reported reduced demand on a seasonally adjusted basis. This measure suggests a rebound in annual GDP growth to around 2 percent at the end of 2020 from the lockdown lows in mid-2020.
More:
- building sector remains the most optimistic of the sectors
- sentiment in the other sectors improved
- businesses are generally still cautious about general economic conditions ahead
- Demand has improved in most of the other sectors
- firms are still finding it difficult to pass on rising costs by raising prices, weighing on firm profitability
- net 15 percent of firms are planning to increase headcount in the next quarter
- net 10 percent of firms are looking to invest in plant and machinery
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As you can see, NZD little changed.
