In the preliminary survey results for October, New Zealand ANZ Business Confidence rose to -14.5, up from September’s -28.5. Own Activity Outlook turned positive to 3.6, up from -5.4. Employment intentions rose to -3.2, up from -11.8, but stayed negative.
ANZ said October’s data “saw another widespread improvement in the forward-looking activity indicators”. But, “key tests for the economy lie ahead: the winding down of the wage subsidy and the lost summer for tourism.”
