In the The latest NZIER Quarterly Survey of Business Opinion, a net 34.4% of New Zealand businesses expect a deterioration in general economic conditions over the coming months, much worse than prior quarter’s 11.1%. Trading activity for the next three months dropped slightly from 8.7 to 8.3.
Regarding inflation, a net 61% reported increased costs in Q4, highest since 2008. A net 65% expect further increase in prices in the next quarter. NZIER said, “these results point to inflation pressures in the New Zealand economy remaining strong over the coming year.”
