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Flash results from the ANZ New Zealand Business Survey for October showed lower confidence but higher activity:

ANZ Business Confidence for October, preliminary: -8.6 (before -7.2)

Business outlook 26.2 (before 18.2)

  • expectations for trading activity increased for the first time since mid-year
  • Employment and investment intentions remained firm.

Wednesday brings the final for the month of October. The underlying inflation gauges will be examined. Extract from the preliminary report:

  • Inflationary pressures remain intense, with inflation expectations still above 3% and price intentions dropping from 58% to 64% net of companies planning to raise their prices in the coming months

Inflation expectations have been above the upper bound of the RBNZ inflation target range in recent surveys.

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