Business confidence in Wellington has taken a big hit.
The latest survey by the city's Chamber of Commerce shows just 13.1 percent of businesses expect the region's economy to improve over the next year.
That was almost half what it was three months ago.
Photo: 123rf
Wellington businesses say the region's economy is being held back by poor infrastructure - public transport, roading and the lack of international air-routes - and also by the city's leadership.
However, while they're still modestly positive about the region's outlook, confidence in the national economy has all but evaporated - the net optimism level is a fraction above zero, compared with a net 40 percent in the previous survey in May.
The Wellington survey mirrors other national and regional measures which show business sentiment tumbling to multi-year lows in some cases.
Consumers at least seem less gloomy with the latest ANZ confidence survey edging up slightly, all of which will be added to the mix as the Reserve Bank mulls over whether to lower interest rates again next month.