Business confidence has softened in National Bank's monthly survey.
While firms' view of the general business situation was unchanged from last month's at a net 17 per cent positive, their expectations for their own activity fell 4 percentage points to a net 25 per cent expecting improvement - a level in line with the historical average.
Profit expectations, hiring intentions and export intentions also fell, but investment intentions firmed.
A net 15 per cent of firms expect to raise their prices over the next three months, down 3 percentage points on last month's survey to a three year low.
Inflation expectations also eased, from 2.9 to 2.36 per cent.