The post-election business confidence boom is over

NZIER data shows 24 percent of businesses surveyed in the last quarter, expected the general economic outlook to worsen in the coming months.

Meanwhile ASB figures show pricing and cost metrics did cool, but not to the extend hoped for.

Senior economist Mark Smith says it's clear the sharp pick-up in confidence last quarter was a one-off.

He says the numbers are weak on the activity side of the economy, and while pricing is weakening -- more needs to be done.