New Zealand corporate earnings, while generally solid, are pointing to a gradual economic slowdown, fund managers said.
Most results from those NZX-listed companies with June 30 balance dates have reflected solid earnings, some dividend growth and strong balance sheets.
But fund managers said that when it came to companies' "outlook" statements, the future was clouded with uncertainty, particularly on the international front.
"I think that we are on a glide path and that we seem to be heading towards a soft landing," Shane Solly, portfolio manager at Harbour Asset Management, said.
"Global issues might push back some companies over the