Business confidence fell 8 points to +15 in April. Expected own activity fell 9 points to +14, and past own activity dropped 13 points to -20. • Pricing intentions increased 2 points to 47 while inflation expectations were unchanged at 3.8%. Cost and wage pressures remain very high. {chart} The April ANZ Business Outlook survey showed a clear weakening in activity and profitability indicators but mixed developments regarding inflation pressures. Cost pressure is particularly persistent. Reported past activity, which has the best correlation to GDP, dropped sharply, with double-digit falls seen in every sector except ... (full story)