New Zealand - ANZ business confidence for October, preliminary: -8.6 (prior -7.2)

Activity Outlook 26.2

• prior 18.2

ANZ in New Zealand business survey, these the flash results for October.

Some of the points ANZ make, this in (very) brief:

• most forward-looking activity indicators hold up or improve
• Investment intentions jumped 5 points
• employment intentions eased 1 point
• Expected profitability saw a 13pt bounce, with just a net 3% of firms expecting lower profits.
• Capacity utilisation, which normally correlates well with GDP, lifted from 17% to 20%.
• 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