New Zealand September business confidence 60.9 (prior 50.6)

ANZ Business Outlook survey September 2024

Business Confidence 60.9%

• prior 50.6%

Activity 45.3%

• prior 37.1%

ANZ comment:

• first signs of improvement in current activity
• A sharper rebound in economic activity than generally anticipated would of
  course be great news – as long as inflation still returns sustainably to target.
• The proportion of firms intending to raise their
  prices in the next three months lifted for a third consecutive month. It’s the
  highest since April and well above pre-COVID levels.
• But in good news from the RBNZ’s point of view, reported wage growth
  has dropped from 4% in April to 3% six months later, and no doubt relatedly,
  cost expectations have dropped steadily from 3.2% in April to 2.4% now.

This article was written by Eamonn Sheridan at www.forexlive.com.