New Zealand data – ANZ November Business Confidence 64.9 (prior 65.7)

New Zealand November 2024 Business Survey

Business confidence 64.9%

• prior 65.7

Activity outlook 48.0%

• prior 45.9

ANZ comments:

• Business confidence eased 1 point to +65 in November, but expected
  own activity rose 2 points to +48.
• Experienced own activity rose a point
  to -10, while past employment lifted from -15 to -12.
• Pricing intentions fell 2 points to a net 42% of firms intending to raise
  prices in the next 3 months. The average amount by which they intend
  to raise eased from 1.7% to 1.6%.
• In good news for the RBNZ, inflation
  expectations dropped markedly from 2.8% to 2.5%, likely impacted by
  the Q3 CPI print of 2.2% y/y.

***

Earlier from NZ today:

• Data from New Zealand today confirms signs of still-rising unemployment

Yesterday:

• ForexLive Asia-Pacific FX news wrap: RBNZ 50bp rate cut as expected, NZD jumped anyway

This article was written by Eamonn Sheridan at www.forexlive.com.