The full-month September ANZ Business Outlook survey confirmed that activity indicators have lifted since August, including firms’ own activity expectations and business confidence (figure 1). That said, the latter did dip a little as the month went on. Firms’ expectations for their own activity is the better economic indicator of the two. It has bounced considerably off its lows but remains negative, which is typically only seen in recessions. But at -5.4%, it could be (and has been) worse. It is the highest since February, well off its spectacular low of -55.1% in April, and also higher than the lows seen in ... (full story)