New Zealand Quarterly Survey of Business Opinion (QSBO) from the New Zealand Institute of Economic Research (NZIER) Business confidence -25%, prior -2%Capacity utilization 90.2%, prior 91.4%Comments from NZIER (in brief, bolding mine):post-election bounce in business confidence and activity seen in the final quarter of last year was short-livednet 24 percent of businesses in the March quarter expect a deterioration in the general economic outlook over the coming months on a seasonally adjusted basisnet 23 percent of firms reporting a decline in activity over the March quarterOverall, the results point to higher interest rates having their intended effects in dampening demand to reduce inflat
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