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NZ: Business Confidence falls in June – ANZ

Australia and New Zealand Bank’s research team notes that the New Zealand’s headline business confidence fell 6 points to net -44% in July’s ANZ Business Outlook. that the New Zealand’s headline business confidence fell 6 points to net -44% in July’s ANZ Business Outlook.

Key Quotes

“Firms’ views of their own activity fell 3 points to +5%, the lowest read since August last year. Other activity indicators were also weaker.”

“Inflation indicators were slightly weaker while pricing intentions were unchanged. Reported cost pressures fell 3 points, and inflation expectations eased slightly.”

“Residential construction intentions fell back into negative territory. Employment intentions and profitability expectations for the construction sector plummeted to the lowest since 2009.”

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