NZIER's Quarterly Survey of Business Opinion for Q2, comes in at +5.0%
- prior was 23
- Falls to a 3-year low
result hit early
NZD/USD down a little
More:
- NZIER says the result suggests further RBNZ rate cuts this year, see 2 more cuts this year, one in July and another in September
- Seasonally adjusted business confidence at 7, prom 20 in Q1
- Cites weaker dairy prices impacting on confidence in rural areas
- Retailers less confident, building industry holding up
- Both investment and employment intentions have been cut back, but still solid
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- Surveys firms regarding their recent experience and expectations for the next three to six months
- The survey samples "manufacturers, builders, architects, wholesalers and retailers, and service sector firms"