Key insights from our April report:

• Businesses have become more concerned about the economy’s growth prospects, the political situation in NZ, and supply chain functioning amidst the tariff war offshore.

• As a result they have cut back on plans for investment in new equipment, intend further stock level reductions, and measures of employment have deteriorated anew.

• Despite the worsening outlook for 2025, the pressure on margins from rising costs is sufficiently great that plans for raising selling prices have increased.