Business confidence down in New Zealand

   A key business confidence survey showed the export-led recovery in the economy could be running out of steam in New Zealand.
    Business confidence fell in the three months to the end of June, casting doubt on the strength of New Zealand's economic recovery.
    The Quarterly Survey of Business Opinion by the New Zealand Institute of Economic Research (NZIER), released on Tuesday showed that while optimists still outnumber pessimists, with a net 18 percent expecting the economy to improve, that figure is down from 22 percent in March.
    Falling confidence among manufacturers is attributed to the weakening recovery in Australia. Confidence among construction firms and architects has also fallen.
    Fewer jobs were shed in the most recent period but the number of firms intending to take on more workers fell.