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The preliminary March read on all key activity indicators fell from February levels. Pricing indicators also dropped, economists at ANZ Research inform.

Key quotes

“All activity indicators fell. Most in broad terms gave up the gains seen since the nadir around August/September last year.” 

“It is encouraging that firms are not slamming on the brakes any harder at this point.  However, firms’ expected own activity was the lowest since March 2009, and export expectations were dire, with a net 22% of firms expecting lower exports.” 

“In terms of inflation indicators, expected costs fell to the lowest level since we started asking the question last April. Pricing intentions and inflation expectations fell back to around the lows seen last year.”