Business confidence for October, -13.4, lower than in September and lower also than the flash result
- preliminary -8.6 (prior -7.2)
Activity Outlook 21.7, improved from September but not as strongly as the flash suggested
- preliminary 26.2 (prior 18.2)
ANZ's first' key point' from their summary is a doozy ... bolding mine:
- Cost and inflation pressures are off the charts. Inflation expectations jumped almost half a percent to 3.45% due to the strong CPI data.
- Survey indicators are still fairly robust but cracks are appearing.
- The resilience of Auckland businesses is impressive but this survey won't capture cumulative balance sheet damage.