The latest NZIER Quarterly Survey of Business Opinion shows the New Zealand economy losing momentum. The drop in activity indicators in the June 2015 quarter points to annual growth remaining below 3% over the coming year – a marked drop from the 3.5% annual growth we saw at the end of last year. Business confidence fell to the lowest level since September 2012. Since the Global Financial Crisis, businesses’ activity expectations have outpaced actual activity. However, it appears businesses have now moderated their activity expectations to be more consistent with the softening demand environment. That said, on a ... (full story)