The latest NZIER Quarterly Survey of Business Opinion showed a recovery in business confidence in the June quarter, with a net 12 percent of firms expecting an improvement in general economic conditions over the coming months, on a seasonally adjusted basis. This was a pick-up from the net 1 percent expecting a better general economic outlook in the previous quarterly survey, which was undertaken shortly after the onset of the US-Israel-Iran war that boosted fuel prices. Meanwhile, demand in firms’ own business was broadly flat, with only a net 1 percent of firms reporting increased activity in the June quarter on a seasonally adjusted basis.