New Zealand data much improved. Quarterly Survey of Business Opinion (QSBO) from the New Zealand Institute of Economic Research (NZIER). Link to more here. In summary:
Business confidence comes in at -1% in Q3
prior -44%
Net 5% expect a deterioration in general economic conditions over the coming months
prior was 40% expecting deterioration
Firms’ own trading activity, net 31% reporting a decline in activity in their own business in Q3, but only net 2% are expecting weaker activity in Q4.
On inflation pressure:
slight increase in the proportion of firms reporting higher costs in Q3only a net 3% of firms were able to raise prices to pass on costs (from 23% in Q2)”The change in firms’ price-setting behaviour was highlighted by the RBNZ as a key factor providing them the comfort that inflation was easing enough to warrant them in commencing an easing cycle in the OCR.
On the employment front:
easing in capacity pressuressignificant proportions of firms now reporting it easy to find skilled and unskilled labourMany firms also reduced their staff numbers in the September quarterresults point to increased slack in the labour market
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The QSBO is a closely-watched survey:
is one of the country’s longest-running business surveys. It provides a insights into the business climate and economic conditions in New Zealand, and the factors influencing business sentiment, such as domestic and international economic conditions, government policies, and other external events.surveys businesses across various sectorsgathers data on business confidence, demand, hiring intentions, investment plans, and other economic indicatorsQSBO findings can vary significantly from one quarter to another
This article was written by Eamonn Sheridan at www.forexlive.com.
