A drop on the month for both in ANZ's Business Outlook Survey
Business confidence drops to -10.1 and Activity Outlook to 22.2
- Priors 0.0 and 29.6 respectively
Business confidence measure is at its lowest since September 2015
- ANZ citing the uncertainty surrounding the post-election not knowing on who the government would be
- Business investment intentions slightly lower
- Hiring intentions were slightly lower also
- Expectations for profits also down
ANZ say the shift lower for the composite growth indicator "a material shift" and that "warrants further monitoring"
As part of the survey is the Inflation expectations
- 1.93% (from 1.98% prior)