On June 29, ANZ’s monthly business survey showed that New Zealand’s June business confidence index jumped 13 points to -18%, the highest level since November 2021, while an index measuring expected own activity jumped 8 points points, to +2.7%, the first increase in the indicator in 14 months.
Inflation measures generally moderated. While the outlook remains very uncertain, positives are emerging, the report said.
ANZ said businesses appeared to be taking encouragement from the RBNZ’s decision to call for a pause in rate hikes.