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5 Aug 2020 5:44
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  •   Home > News > Business

    New Zealand firms aren't expecting a pickup in economic activity anytime soon and many plan to further reduce staff

    New Zealand firms aren't expecting a pickup in economic activity anytime soon and many plan to further reduce staff


    The NZIER Quarterly Survey of Business Opinion shows a net 37 per cent report a decline in trading activity in the June quarter.

    A net 25 per cent also expect weaker demand in the next quarter.

    Principal economist Christina Leung says a net 19 percent of businesses cut staff in the June quarter.

    She warns a net 28 per cent of businesses plan to cut staff numbers in the next quarter as well - the weakest level since March 2009.

    © 2020 Newstalk ZB, NZCity


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