NZ firms expect weak activity, more job cuts to come

Tue, 07 Jul 2020

New Zealand firms aren’t expecting a pickup in economic activity anytime soon and many plan to further reduce staff. “Firms have become even more cautious and have pared back on headcount and business investment,” according to the latest quarterly survey of business activity from the New Zealand Institute of Economic Research. A seasonally-adjusted net 37 percent reported softer domestic activity in the June quarter versus a net 12 percent who were downbeat in the prior survey. Looking ahead, a seasonally adjusted net 25 percent expe...

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