Confidence up, spending down. What's going on?

The NZIER Quarterly Survey of Business Opinion shows that domestic trading activity remains weak, but cost pressures are still pushing higher. Kiwi businesses are reaching the end of their buffers and higher prices may just follow. With positive net migration, we have more people arriving than leaving the country. But that's not true for Kiwi passport holders, most of whom are still heading off to Australia for better work opportunities. One bright spot for our economy is tourism. The May 2026 data printed higher than last year - so there's hope for a good winter season (if we can get any snow). Aussies were the most likely to pop over for a visit.Hosted by Jarrod Kerr, Alexandra Turcu and Elliott Lowe. Follow our economic commentary & insights here https://www.kiwibank.co.nz/business-banking/thrive-hq/kiwi-economics/.Any views or information shared in this podcast, while given in good faith, aren't necessarily the view of Kiwibank.