NZ: Stable business outlook - ANZ

Analysts at ANZ note that for the New Zealand economy, most ANZ Business Outlook activity indicators were little changed in April as the business confidence was flat at -38, while firms’ views of their own activity rose 1 point to a net 7% of firms expecting a lift.

Key Quotes

“Pricing intentions were flat and reported cost pressures eased, but profitability expectations only lifted 1 point and remain negative. A net 30% of respondents anticipate lower interest rates.”

“Residential construction intentions fell again. The survey period excludes any meaningful impact from the ruling out of a capital gains tax.”