New Zealand ANZ Business Confidence fell from 36.6 to 34.7 in February. Own activity outlook rose from 25.6 to 29.5. Inflation expectations fell from 4.28% to 4.03%. Pricing intentions eased from 50% to 48%, continuing their sideways trend of recent months. Cost expectations fell from 75.6 to 73.5. Wages expectation fell from 81.4 to 78.9.
ANZ’s describes the economy as “patchy,” with visible “green shoots” in some sectors, yet acknowledges the “ongoing challenges” facing other segments. The survey does not imply the “economy is rolling over” or that “inflation has been beaten”.
