Business confidence has soured in the wake of the new Labour-led Government, with employers cutting back plans to invest or hire new staff.
The quarterly survey of business opinion (QSBO), the leading survey of its type, showed a net 11 per cent of businesses expect the New Zealand economy to deteriorate over the next six months.
While those covered by the survey were somewhat more upbeat about how their own business would perform over the period, the net 11 per cent expecting an increase in their own activity was the lowest in the QSBO in close to five years.
The net figures represent the difference between the number of businesses which expect conditions to improve in the coming year and those which expect it to deteriorate. A negative score means pessimists outnumber optimists.
from Ellie NZ Rss http://www.stuff.co.nz/business/100606433/Business-confidence-drops-with-fewer-expecting-to-hire-or-invest
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