NZIER’s QSBO shows a continued deterioration in business confidence The latest NZIER Quarterly Survey of Business Opinion (QSBO) points to a further decline in business confidence in the June quarter as higher interest rates continue to dampen demand across the New Zealand economy. A net 35 percent of firms expect a deterioration in the general economic outlook over the coming months on a seasonally adjusted basis. Firms’ own trading activity also weakened. A net 28 percent of firms reported a decline in activity in their own business in the June quarter, which was up from the 24 percent seen in the previous quarter. ... (full story)