New Zealand data - The ANZ business survey for May
Activity Outlook 13.6, its lowest since November of last year
- prior 17.8
Business Confidence -27.2,
- prior -23.4
Slides for both these measures
NZD off a few tics
Inflation expectations 2.13% from 2.11% prior
ANZ not too upset on the result:
- point to GDP growth around 2% in the year head
- economy still has good tailwinds - citing fiscal stimulus, record high terms of trade
