New Zealand April (preliminary) Business Confidence -8.4 (prior -4.1) & Activity Outlook 16.4 (prior 16.6)

Author: Eamonn Sheridan | Category: News

NA data - ANZ business survey for April, preliminary results 

Business Confidence slides further, to -8.4
  • prior -4.1

Activity Outlook 16.4
  • prior 16.6

ANZ comments:
  • 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. 

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