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New Zealand Q2 business confidence collapses further, to -44% (prior -25%)

2024-12-20FOREXLIVEFOREXLIVE
New Zealand Q2 business confidence

New Zealand Institute of Economic Research (NZIER) quarterly survey of business opinion

  • 44% of firms surveyed expected general business conditions to deteriorate compared with 25% pessimism in the previous quarter
  • net pessimism has been shown in the results of this survey since the third quarter of 2021

High interest rates in NZ continue to dampen demand.

NZD/USD bids getting given, not a large move:

nzdusd 02 July 2024 2

The bigger picture was the NZD decline, alongside other FX vs. the USD, overnight.

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