According to the latest data from the New Zealand Institute of Economic Research (NZIER), the country's capacity utilization rate slightly decreased to 90.2% in the first quarter of 2024. This marks a slight decline from the previous quarter when the capacity utilization stood at 91.4%. The data, released on April 8th, 2024, indicates a minor decrease in the utilization of resources across various sectors of the New Zealand economy.
The NZIER Quarterly Survey of Business Opinion (QSBO) provides valuable insights into the state of the economy, with capacity utilization being a key indicator of how efficiently resources are being used by businesses. While the slight decline may indicate some challenges in maximizing resource efficiency, it is essential to monitor future trends to assess the overall economic performance and potential areas for improvement in New Zealand's business landscape.
