New Zealand Q3 business confidence -53% (vs. -63% in Q2)

<p>The New Zealand Institute of Economic Research (NZIER) Quarterly Survey of Business Opinion (QSBO).</p><p>Business confidence improved a little but is still deeply negative</p><p>53% of businesses expect a worsening in general economic conditions over the coming months</p><ul><li>was -63% in Q2</li></ul><p>Main points from the NZIER report:</p><ul><li>Demand remains soft</li><li>sharp easing in labour shortages</li><li>These developments suggest that higher interest rates are starting to dampen demand in the New Zealand economy</li><li>easing in capacity pressures more broadly</li><li>
Pricing pressures have eased while cost pressures remain intense
</li></ul><p>NZD/USD is barely changed on the report:</p>

This article was written by Eamonn Sheridan at www.forexlive.com.