New Zealand 3rd-qtr business confidence improves, remains pessimistic, says think tank
WELLINGTON, Oct 1 (Reuters) -New Zealand's business confidence in the third quarter improved significantly but remains in pessimistic territory, while pricing pressures are at their lowest level in nearly four years, a private think tank said on Tuesday.
A net 1% of firms surveyed expected general business conditions to deteriorate compared with 44% expressing pessimism in the previous quarter, the New Zealand Institute of Economic Research's (NZIER) quarterly survey of business opinion (QSBO) showed.
“The start of the easing cycle with the OCR cut by the Reserve Bank of New Zealand on 14 August at its Monetary Policy Statement appears to have supported expectations of improved conditions ahead,” NZIER said in its report.
Reporting by Lucy Craymer; Editing by Leslie Adler
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