New Zealand NZIER Business Confidence improved to -40 in Q3, up from -63. That is, a net 40% of firms surveyed expected deterioration in general business conditions, comparing to 63% a quarter ago. Own trading activity also turned position to +1, up from -37.
“This result supports our expectations of a V-shaped recovery in economic activity, as the New Zealand economy responds to the unprecedented amount of stimulus measures implemented by the Government and Reserve Bank,” NZIER said.
