ANZ New Zealand business survey
Business confidence slips to 54.4, still a solid reading
- prior 62.3
Activity Outlook, same, 45.8
- prior 50.3
ANZ remarks on the results:
- Past own activity, (the best GDP indicator) was stable close to zero, while past employment continued to lift, though at -7 it remains in contraction.
- Pricing and cost indicators lifted, with the downward trends that have been in place over the past year showing signs of flattening off. Inflation expectations lifted a touch but remain within the target band at 2.7%
NZD/USD is up a few tics on the session, more reflecting a tiny bit of softening for the USD that is down a little across the majors board. More of a wiggle than a move really. NZD/USD is around 0.5666 currently.