The latest NZIER Quarterly Survey of Business Opinion has revealed business confidence has taken a hit for the March quarter.
Only a net 1 percent of firms expect better general economic conditions over the coming months on a seasonally adjusted basis.
EMA Head of Advocacy Alan McDonald says people were expecting the economy to get better - and this conflict put an economic 'handbrake' on recovery.
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Nathan Surendran: Wise Response Society chair on New Zealand's response to the ongoing fuel crisis
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David Seymour: Act leader proposes $30m scheme to teach kids investing
09:39

Leeann Watson: Business Canterbury CEO on the opening of the One NZ Stadium
03:27