Business confidence in central New Zealand is at record lows

A survey of 220 businesses from Gisborne to Nelson has found their expectations for the economy were at a net negative of 62 percent.

That's down from a net negative of 43 percent when the survey was last done in April.

It comes as inflation hits 7.3 percent -- its highest rate since 1990.

Wellington Chamber of Commerce chief executive Simon Arcus says confidence is now at similar levels to the Global Financial Crisis and the onset of Covid-19.