Businesses are as pessimistic as ever, after a difficult three years

NZIER's Quarterly Survey of Business Opinion shows almost three quarters of businesses expect economic conditions to worsen this year.

That's the highest number since the survey began in 1970.

Christchurch's Central City Business Association chair Annabel Turley says the results reflects the lay of the land.

She says people who aren't small to medium business owners don't actually understand what they've had to do to keep the wheels turning.