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ANZ New Zealand Business Outlook
The preliminary ANZ Business Outlook data for July saw further increases across all forward-looking activity indicators. Levels in some cases are now back within the ranges that prevailed over 2019. But export intentions remain very subdued. Both business confidence and own activity again saw large lifts (5 and 19 pts respectively). A net 4.5% of firms expect to reduce investment (an improvement of 16 pts); a net 26% expect lower profits (up 21 pts), and a net 3% expect lower capacity utilisation (up 13 pts). The near-term employment picture improved markedly. A net 15% of firms expect to cut jobs, versus 35% last ... (full story)