New Zealand ANZ business survey for August final
- Business Confidence
- Activity Outlook
ANZ comments:
August Business Outlook survey slipped after the re-emergence of COVID-19, but not very much.
However, the survey overall is recessionary, and the retail sector, which drove the rebound in recent months, is losing heart rapidly.
More:
- Activity indicators in the ANZ Business Outlook survey slipped a little from their early-August preliminary reads, but on the whole, were relatively robust to the re-emergence of COVID-19 in the community on 12 August.
- Headline business confidence, at -41.8%, was little changed from the early month read, as was own activity, at -17.5%. Both of these reads are weaker than July, but didn't deteriorate markedly as August progressed.
- However, Auckland businesses are much more downbeat than elsewhere, particularly regarding current activity, unsurprisingly, but also the outlook.
- The retail sector has driven much of the rebound in ANZBO activity indicators since June, but is losing heart rapidly
NZD down a few tics, as is AUD.
