New Zealand ANZ business survey for June. preliminary look at the data for the current month.
Business Confidence -33.0
- prior -41.8
Activity Outlook -29.1
- prior -38.7
ANZ comments, in brief:
All forward-looking activity indicators lifted from May levels
- but they remain extremely weak
Nearly half of firms report having fewer staff than a year ago.
there's a huge tourism-shaped hole in our economy. The hardest-hit sectors - accommodation, hospitality, retail - are the biggest employers, and the resulting unemployment will have unpleasant feedback loops. People will feel comfortable going into a shop or restaurant - that's a huge win - but whether they'll feel comfortable spending money is another question again.
