XE Data Update
NZ Business Confidence
The preliminary ANZ Business Confidence & Own Activity Outlook data for July have just been released.
The Business Confidence fell further (more negative):
-42.4% vs -31.8% (previous survey)
Firms’ Own Activity Outlook for July fell further (more negative):
-17.0% vs -8.9% (previous survey)
These are the
- final numbers
will be released towards the end of
- Adds to the evidence that the post-lockdown rebound may have run its course.
- Employment and investment intentions fell as the post-lockdown bounce starts to give way to the drag from the closed border
- With temporary fiscal support measures poised to roll off in coming months, and the impacts of a closed border to be fully felt only when the peak-tourism summer season arrives, there are plenty of economic hurdles to clear yet. Today's data is indicative of exactly that.
The NZD is marginally lower in immediate response
Current indicative levels are: