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ANZ New Zealand Business Outlook
Key points: • Headline business confidence fell a couple of points to net 7.0%, while firms’ own activity outlook eased 1 point to 21.3%. • Most indicators are slightly lower than their preliminary readings, likely influenced by the snap lockdown. • Expected profitability fell in every sector except construction. • Inflation pressures continue to build. Freight disruptions are worsening, and are most severe for the retail sector (inward) and manufacturing (outward). The bounce in business sentiment and activity indicators has flattened out, as was always inevitable and isn’t alarming. The levels remain ... (full story)