NZ business confidence survey showed improvement. But wait 'til they get this memo ….

Better news from the ANZ Business Outlook Survey for December 2018. Confidence and activity both improved:

• NZ business confidence: -24.1 (prior -37.1)

I don't want to be a curmudgeon (I guess its referred to as being a Grinch at this time of year) but this from the ANZ report:

Note problem #1.

Now, note this news from earlier:

• New Zealand plans to tighten rules for short-term worker visas

Its difficult to see how that piece of news will help NZ business find employees, at least short-term.

Anyway, problem for down the track. Right now the NZD is liking the better confidence and activity data: