New Zealand December business confidence 62.3 (prior 64.9)

ANZ New Zealand business survey for December 2024:

• Business confidence eased 3 points to +62 in December
• but expected own activity rose 2 points to +50
• past own activity (the best GDP indicator) jumped 10 points to 0.
• Past employment fell 1 point to -13.
• Pricing indicators and inflation expectations were little changed, but there was a surprising 7-point jump in cost expectations from a net 63% to a net 70% expecting higher costs in the next three months.

more to come

Earlier from NZ:

• New Zealand "dramatically worse than anyone had expected" - RBNZ could cut by 75bp in Feb

• New Zealand Q3 GDP -1.0% q/q (vs. -0.4% expected)
• New Zealand dollar falls even further after GDP plunges