Key points: • The preliminary April read of the ANZ Business Outlook showed a 4-point fall in business confidence and unchanged own activity expectations. • Pricing expectations hit a new high, in data that goes back to 1992. Cost expectations data only goes back two years but also hit an eye-watering high of a net 75% of respondents expecting higher costs. The preliminary ANZ Business Outlook data for April saw business confidence fall 4 points to -8%, while the own activity outlook was unchanged at +16.4%. Details on the activity side were flat to weaker. Employment and investment intentions were unchanged, and ... (full story)