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MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
NEW ZEALAND
The ANZ business confidence index rose to -18 in June from -31.1, the highest since November 2021, signalling that firms tentatively feel that the worst is behind them. This follows the RBNZ moving to a neutral stance. The activity outlook moved into positive territory at +2.7 from -4.5 the previous month, best result since April 2022.
- Inflation expectations eased further to 5.3% from 5.5%, which should reassure the RBNZ re its policy shift but the price/cost measures need to continue falling. Pricing intentions continued to moderate slowly falling to 49.3 from 52.4, but remained elevated, with a net 64% of retailers expecting to increase prices within 3 months. Costs are expected to rise more than prices though. Wage expectations eased to 80.2 from 84.
- But capacity pressures rose with employment improving to -3.5 from -5.7 and capacity utilisation to +4.3 from -1.2. Employment was higher versus a year ago. Investment intentions rose to their highest since October.
- Exports were weaker at -1.8 from +2.0, signalling a slowdown in global demand.
NZ ANZ business indicators
Source: MNI - Market News/Refinitiv
NZ ANZ business price/cost measures
Source: MNI - Market News/Refinitiv
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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