Retailers have faced increased costs as a result of Covid-19, which they are passing on to customers. A new survey of business confidence shows the country’s economic growth may not be hit quite as badly as expected. ’It’s not surprising, considering that the lockdown saw the economy largely ground to a halt,’' principal economist Christina Leung said. A net 19 per cent had cut staff, and a net 28 per cent expecting to do so in the next quarter. A net 75 per cent of building sector firms now expected the economy to deteriorate in the coming months.

Source: Stuff July 06, 2020 22:26 UTC