NZ data - ANZ Business Confidence 15.7 (prior 30.2) & Activity Outlook 32.6 (prior 41.3)

New Zealand data

ANZ Business confidence for May, 15.7

• prior was 30.2

and ANZ Activity Outlook for May, 32.6

• prior was 41.3

The survey from ANZ also convers inflation expectations - they are down to 1.62% from 1.76% prior

NZD/USD marked lower on the data:

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Earlier today we got New Zealand - April Building Consents (Permits): -1.7% m/m (vs prior of +11%)