Business pessimism in June worst since March 2020

NZIER's Christina Leung said inflation pressures are the highest since 1985. (Image: NZ Herald)

Tue, 05 Jul 2022

Business pessimism in the June quarter was at its deepest level since March 2020 as firms grappled with intensifying inflation pressures and expectations of higher interest rates.Despite that, Christina Leung, the principal economist at the New Zealand Institute of Economic Research (NZIER), isn’t expecting the economy is headed into recession but said, “this increases the risk of that”.The economy shrank 0.2% in the March quarter, and it would need to have shrunk in the June quarter if NZ is already in recession, though that...

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