{tables} The September ANZ Business Outlook survey saw many activity indicators slip slightly despite the lift in the headline measures. Export, investment and employment intentions, and construction intentions, both residential and commercial, all eased. However, the falls were small, and the overall survey is best described as ‘mixed’. Also, economy-wide profit expectations lifted. Less helpfully, so too did cost expectations and pricing intentions, but only a smidgen, and inflation expectations eased slightly and recorded the first sub5% read since December 2021 (figure 2). {chart} A net 65% of firms in the retail ... (full story)