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NZ: Business confidence down in June – ANZ

ANZ analysts note that the New Zealand’s headline business confidence reversed May’s lift, down 6 points to net -38% in June’s ANZ Business Outlook.

Key Quotes

“Firms’ views of their own activity fell just 1 point to +8%. Other activity indicators were also fairly steady.”

“Inflation indicators were mixed: pricing intentions fell, reported cost pressures were unchanged, and inflation expectations lifted slightly.”

“Residential construction intentions bounced. However, the construction sector has the weakest employment and profitability intentions across the economy.”

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