The latest NZIER Quarterly Survey of Business Opinion shows business confidence continued to pick up over the June 2023 quarter but from low levels. On a seasonally adjusted basis, a net 59 percent of businesses expect deterioration in general economic conditions over the coming months. However, firms’ own trading activity remains subdued, with a net 13 percent reporting reduced activity in the June quarter on a seasonally adjusted basis. Also, an increased proportion of businesses expect activity in their own activity to decline in the next quarter. While demand continues to soften, the marked decline in capacity ... (full story)