ANZ business outlook for August 50.6 versus 27.1 last month. 10 year high.

• Prior month 27.1
• Own activity 37.1 versus 16.3 last month. 7-year high
• Experienced own activity rose 1 point to -21, remaining weak.
• Confidence and activity expectations were high even before the Reserve Bank’s OCR cut.
• Pricing intentions increased 3 points to 41% of firms planning price hikes in the next three months.
• Planned price increase rose from 1.4% to 1.6%.
• Inflation expectations fell from 3.2% to 2.9%, the first sub-3% reading since July 2021.

The 50.7 is the highest since May 2014

This is a strong number

This article was written by Greg Michalowski at www.forexlive.com.