New Zealand April (preliminary) Business Confidence -8.4 (prior -4.1) & Activity Outlook 16.4 (prior 16.6)
NA data - ANZ business survey for April, preliminary resultsBusiness Confidence slides further, to -8.4
- Details on the activity side were flat to weaker.
- Employment and investment intentions were unchanged, and export intentions rose slightly, but capacity utilisation, the best GDP indicator, fell 3 points.
- Expected credit availability also fell 6 points.
- The proportion of firms reporting higher employment than a year ago fell 2 points.
On Inflation pressure, says ANZ:
- Cost and inflation pressures remain intense.
- Pricing expectations hit a new high, in data that goes back to 1992. Cost expectations data only goes back two years but also hit an eye-watering high of a net 75% of respondents expecting higher costs.
NZD not showing much of a response, its lower alongside weakness in AUD, EUR, CAD.