NZ: Business Confidence falls in June – ANZ

ANZ analysts note that the New Zealand’s headline business confidence fell 6 points to net -44% in July’s ANZ Business Outlook.

Key Quotes

“Firms’ views of their own activity fell 3 points to +5%, the lowest read since August last year. Other activity indicators were also weaker.”

“Inflation indicators were slightly weaker while pricing intentions were unchanged. Reported cost pressures fell 3 points, and inflation expectations eased slightly.”

“Residential construction intentions fell back into negative territory. Employment intentions and profitability expectations for the construction sector plummeted to the lowest since 2009.”