New Zealand: Business confidence and activity receding in May

FXStreet (Bali) – New Zealand ANZ activity outlook for the month of June came at 23.6 vs 32.6, while ANZ business confidence stood at -2.3 vs 15.7.

Summary – Cameron Bagrie, Chief Economist ANZ

“Business confidence and firms’ signals on the employment, investment and activity front are receding. They’re receding from high levels though, so let’s keep it in perspective.”

“The growth side of the economy still looks okay; optimism is just progressively being tempered. There are risks though, and declines are looking more trend-like.”

“Inflation expectations fell to a historical low. A low headline inflation rate will be playing a role, but it’s notable that inflation expectations are tracking below the inflation target midpoint; that’s unusual.”

New Zealand ANZ activity outlook for the month of June came at 23.6 vs 32.6, while ANZ business confidence stood at -2.3 vs 15.7.

(Market News Provided by FXstreet)