NZIER business survey:

  • Q2 business confidence +32% (i.e a net 32% of firms surveyed expected general business conditions to improve) vs. +52% in prior quarter
  • 33% of firms expected general business conditions to pick up, from a downwardly revised 51% in the previous survey, which equalled a near 10-year high
  • Q2 capacity utilization +90.6% vs. +89.4% prior quarter
  • NZIER says firms increased prices at a faster rate and this was pointing to an inflation rate of about 2.5% by the end of the year
  • NZIER says economic recovery is intact, but moderating