New Zealand business confidence remains low in Q2: NZIER survey

[WELLINGTON] New Zealand business confidence improved slightly in the June quarter but businesses remain pessimistic about general economic conditions over the coming months, a private think tank said on Tuesday.

A net 63 per cent of firms surveyed expected general business conditions to deteriorate compared with 70.0 per cent in the previous quarter, the New Zealand Institute of Economic Research's (NZIER) quarterly survey of business opinion (QSBO) showed.

Seasonally adjusted data showed business confidence at 59 per cent in the second quarter versus 68 per cent in the previous quarter.

The survey's measure of capacity utilisation was 92.8 per cent, up from the March quarter's 92.1 per cent.

REUTERS