ANZ Business Outlook survey September 2024
Business Confidence 60.9%
- prior 50.6%
Activity 45.3%
- prior 37.1%
ANZ comment:
- first signs of improvement in current activity
- A sharper rebound in economic activity than generally anticipated would of course be great news – as long as inflation still returns sustainably to target.
- The proportion of firms intending to raise their prices in the next three months lifted for a third consecutive month. It’s the highest since April and well above pre-COVID levels.
- But in good news from the RBNZ’s point of view, reported wage growth has dropped from 4% in April to 3% six months later, and no doubt relatedly, cost expectations have dropped steadily from 3.2% in April to 2.4% now.
