---
title: NZIER’s QSBO shows business confidence shaken by the US-Israel war with Iran, Quarterly Survey of Business Opinion - April 2026
description: The latest NZIER Quarterly Survey of Business Opinion showed a drop in business confidence in the March quarter.
---

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# [NZIER’s QSBO shows business confidence shaken by the US-Israel war with Iran, Quarterly Survey of Business Opinion - April 2026](https://www.nzier.org.nz/news/nziers-qsbo-shows-business-confidence-shaken-by-the-us-israel-war-with-iran-quarterly-survey-of-business-opinion-april-2026)

 Written by [The NZIER Team](https://www.nzier.org.nz/news/author/the-nzier-team) | April 20, 2026

The latest NZIER *Quarterly Survey of Business Opinion* showed a drop in business confidence in the March quarter. Only a net 1 percent of firms expect better general economic conditions over the coming months on a seasonally adjusted basis. This was a decrease from the net 39 percent expecting a better general economic outlook in the December quarter. Firms’ own trading activity was flat on a seasonally adjusted basis, which is a slight improvement from the net 3 percent reporting a decline in activity in their own business in the previous quarter.  

[View full post](https://www.nzier.org.nz/news/nziers-qsbo-shows-business-confidence-shaken-by-the-us-israel-war-with-iran-quarterly-survey-of-business-opinion-april-2026)

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