New Zealand ANZ Business Survey for May 2025.
Business Confidence 36.6
- prior 49.3
Activity Outlook 34.8
- prior 47.7
ANZ remarks:
- Business confidence fell 12 points to +37 in May, and expected own activity fell 13 points to +35. However, late-month responses were higher than the early-month ones.
- Meanwhile past own activity (the best GDP indicator) fell from 11 to 5, while past employment fell back into negative territory at -10.
- Pricing and cost indicators eased. One-year-ahead inflation expectations lifted marginally from 2.65% to 2.71%; we’d call that pretty steady.
NZD/USD not a lot changed on the data, but it fell on the tariff court ruling. UPDATE .... NZD has lost a little more gound now.
