The Business Confidence released by the ANZ shows the business outlook in New Zealand has beaten the prior as follows:
- New Zealand business confidence -34.4% in June vs 41.8% – ANZ bank survey.
- New Zealand business own activity outlook -25.9% vs -38.7% prior – ANZ survey.
A vigorous bounce out of lockdown is evident in the numbers, but the levels are consistent with our view that the recession is just starting.
Headline business confidence stabilised over June, similar to the preliminary read at -34%.
A net 26% of firms expect a weaker activity for their own business, a further 3 point improvement, approaching levels typically seen in a recession.
Retail sector expected activity bounced a lot – construction is now the most negative as regards expected activity, though their outlook improved as the month went on.
Description the Business Confidence
The Business Confidence released by the ANZ shows the business outlook in New Zealand.
The Business Confidence allows analysis of the economic situation in the short term. Rising numbers indicate increases in business investment that lead to higher levels of output.
Thus, a high reading is seen as positive (or bullish) for the NZD, while a low reading is seen as negative (or bearish).
NZD was steady on the release.
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