Business confidence has a huge jump to 27.1%
- prior 6.1
Activity outlook 16.3%, also higher
- prior 12.2
ANZ's Key points
- Business confidence jumped 21 points to +27 in July, and expected own activity lifted 4 points to +16. To be fair, these up/down responses are relative to an ever-weaker starting point (past own activity dropped 6 points to -24), so there’s a bit of a “well, can’t get any worse” vibe to it.
- Pricing intentions lifted 3 points to 38, but inflation expectations eased from 3.5% to 3.2%. Inflation indicators were softer in the later sample.
NZD/USD is barely responding, around 0.5906
