International and domestic factors are contributing to a slowing economy, according to the latest BusinessNZ Planning Forecast.
The BusinessNZ Planning Forecast for the September 2019 quarter shows the New Zealand economy growing at a slower rate than previously forecast, and slowing indicators in key sectors.
BusinessNZ Chief Executive Kirk Hope says international tensions, protectionist trade policies and financial market volatility are harming global and domestic growth.
“However, international commodity prices are holding up well and global demand for New Zealand protein is still solid.”
Mr Hope said regulatory change and uncertainty were among the factors causing low business confidence.
The BusinessNZ Economic Conditions Index sits at 5 for the September 2019 quarter, the same as the previous quarter.
The Index tracks 33 economic indicators including GDP, export volumes, commodity prices, inflation, debt, and business and consumer confidence.