• Business confidence eased in February. • Other survey indicators were reined in slightly; agriculture dominated but a broader slowing is natural as we enter a mature and capacity-constricted stage in the economic expansion. We’re not reading too much into it. • Inflation expectations continue to nudge up and more firms think the next move for interest rates is up. The first punt on Business Confidence for 2017 has a grindstone look about it. The tote continues to favour the optimists over the pessimists; a net 17% of businesses are optimistic about the year ahead. That’s down 5 points on December. Large drops were ... (full story)