ANZ in New Zealand business survey flash results for October showed lower confidence but higher activity:
ANZ business confidence for October, preliminary: -8.6 (prior -7.2)
Activity Outlook 26.2 (prior 18.2)
- expectations for trading activity rose for the first time since the middle of the year
- Intentions for employment & investment continued to hold firm.
Wednesday brings the final for the October month. Underlying inflation gauges will be examined.From the prelim report:
- Inflation pressures remain intense, with inflation expectations still above 3% and pricing intentions rising from 58% to a net 64% of firms expecting to lift their prices in coming months
Inflation expectations have been higher than the uppermost boundary of the RBNZ's inflation target band in the last few surveys.