New Zealand – ANZ Business confidence for April: 64.8 (prior was 67.3)

Also – ANZ Activity Outlook for April, 52.5

• prior was 58.2

• Business confidence and activity outlook eased in April
• Remained well above long-run average levels
• No sign of dent from rising interest rates and the elevated exchange rate
• Inflation expectations also remained contained, little changed at 2.59% versus 2.61% in the March survey
• The survey translates into economic growth potential of around 6% mid-2014. ANZ doesn’t believe this is likely, but no doubt the economy is set to expand rapidly; ANZ expects New Zealand to be one of the strongest growth performers in the OECD

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NZD/USD is more or less unchanged on the data release. It has traded a little higher this morning after the earlier strong building permit data