NZ Business optimism slumps

FXStreet (Bali) - New Zealand NZIER Business Confidence (QoQ) was down to 32% in 2Q from previous 52%, implying a 1% fall in GDP compared to three months ago.

According to principal economist Shamubeel Eaqub at NZIER: "The proportion of net optimists in the survey has fallen from 50% to 33%
between the March and June quarters. Experienced trading activity, which closely mirrors GDP growth - for the quarter fell from 24% to 15%, implying GDP growth falling from an annual 3.8% to 2.8%."