New Zealand business confidence improved in the September quarter reflecting a pick-up in demand, a private think tank said on Tuesday.
A net 40.0% of firms surveyed expected general business conditions to deteriorate compared with 63% expecting a slowdown in the previous quarter, the New Zealand Institute of Economic Research's (NZIER) quarterly survey of business opinion (QSBO) showed.
"This result supports our expectations of a V-shaped recovery in economic activity, as the New Zealand economy responds to the unprecedented amount of stimulus measures implemented by the Government and Reserve Bank," NZIER said in a statement.
The survey's measure of capacity utilisation was 92.6%, from the previous quarter's 92.8%.
(Reporting by Praveen Menon; editing by Chris Reese)
