Business confidence jumped 21 points to +23 in October. Expected own activity rose 12 points to +23. Activity indicators jumped in the earlymonth sample and jumped again in the second half of the month. • Inflation indicators were mixed – the RBNZ needs to see more progress. {chart} {table} The October ANZ Business Outlook survey saw a bounce in most activity indicators following the All Blacks’ successful progression to the World Cup final – and the election. Figure 2 below shows September results, the early-October read, and finally the roughly 25% of responses that came in mostly around 19- 20 October following ... (full story)