I had to do a double take on this … October was -37.1% and the Nov result is the same
Its from ANZ's monthly survey of business in New Zealand
- confidence -37.1%
- 'activity' has improved a touch, comes in at +7.6% from +7.4% in October
The negative result for confidence indicates a net 37.1% of firms expect deterioration in conditions for business over the next 12 months. The 'activity' indicator, though, is a net positive; that is 7.6% of firms (net) expect their own business to grow in the next 12 months. If you think there is dissonance evident here you may very well have a point.
ANZ comments on the results:
- sentiment in a holding pattern
- downbeat sentiment at odds with resilience being seen in the incoming hard data
- firms see solid demand, rising costs, capacity constraints
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NZD down a few tics, little changed really though.
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ANZ's Business Outlook Survey monthly survey. Its used as a tool to assess where the economy is headed in the following 12 months
