NZIER Quarterly Survey of Business Opinion flat dispite earthquake
11:00 AM (NZT) The NZ Intstitute of Economic Research's Quarterly Survey of Business Opinion (QSBO) shows flat levels of economic activity for the March Quarter despite the Christchurch earthquakes.
Ecomonic and Employment Conditions outside of Christchurch were stable. Of note were profitability levels being pulled back as costs rose and prices were flat due to demand contraints.
This survey backs up the NBNZ Business Confidence Survey released last week in which the Own Expectations Index was dramatic in its fall. Rising costs leading to lower margins keeping a lid on inflation for now. Building cost pressure and a tighening Labour market mean that these inflationary pressures may not remain subdued in the throughout the year.
The NZD has been relatively unchanged sixnce the report was released.
NZDUSD .7679
NZDAUD .7407
NZDGBP .4756
NZDEUR .5396
NZDJPY 64.63
NZDCAD .7420
Ecomonic and Employment Conditions outside of Christchurch were stable. Of note were profitability levels being pulled back as costs rose and prices were flat due to demand contraints.
This survey backs up the NBNZ Business Confidence Survey released last week in which the Own Expectations Index was dramatic in its fall. Rising costs leading to lower margins keeping a lid on inflation for now. Building cost pressure and a tighening Labour market mean that these inflationary pressures may not remain subdued in the throughout the year.
The NZD has been relatively unchanged sixnce the report was released.
NZDUSD .7679
NZDAUD .7407
NZDGBP .4756
NZDEUR .5396
NZDJPY 64.63
NZDCAD .7420
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