New Zealand January business confidence -52.0 (prior -70.2) Activity -15.8 (prior -25.6) | Forexlive

ANZ New Zealand Business Survey

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ANZ remarks on the results:

Business people appear to have come back from holiday in slightly better
spirits. Some of the shock value of the November rate hike and talk of a
“deliberately engineered” recession appears to have worn off, though most
indicators remain at very subdued levels.

The key themes of the January survey:

• Activity measures generally saw a partial bounce-back from their
  December falls, led by manufacturing, services and retail.
  
• Inflation and pricing pressures remain intense. Both cost expectations
  and pricing intentions moved higher (costs by more, suggesting
  worsening margin squeeze).

Inflation expectations remain stuck around
6% (figure 2).