This is the ANZ business outlook survey for September 2018

Business confidence improves to -38.3, a positive for the NZD (or at least a bit of relief)

  • prior was -50.3
  • up form a 10 year low
  • Sep result the best since May of this year

Activity outlook up alos, to 7.8

  • prior 3.8

Some of the details … a bit mixed;

  • Investment intentions fell further
  • employment intentions higher
  • profit expectations higher
  • inflation expectations (part of the survey) at 2.12% from 2.16% prior

ANZ comment:

  • weak growth signal from the survey

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On this survey, the confidence measure, in a nutshell, showed a net 38.3% of respondents expected the economy to deteriorate over the year ahead

  • 'Activity' - a net 7.8% expected their own businesses to grow in the next 12 months

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For background: