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.
Invest in yourself. See our forex education center.