The latest NZIER Quarterly Survey of Business Opinion (QSBO) indicates the post-election bounce in business confidence and activity seen in the final quarter of last year was short-lived. A net 24 percent of businesses in the March quarter expect a deterioration in the general economic outlook over the coming months on a seasonally adjusted basis. Firms’ own trading activity was similarly sobering, with a net 23 percent of firms reporting a decline in activity over the March quarter. This is a marked turnaround from the net 7 percent of businesses which had reported increased activity in the previous quarter. ... (full story)