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FX.co ★ New Zealand Business Confidence Weakens In April

New Zealand Business Confidence Weakens In April

New Zealand business confidence deteriorated in April, the preliminary ANZ Business Outlook data showed Thursday.

The business confidence index fell to -8.4 in April from -4.1 in March. At the same time, the own activity outlook was unchanged at +16.4 percent.

Employment and investment intentions were unchanged, and export intentions rose slightly, but capacity utilization, the best GDP indicator, fell 3 points.

Expected credit availability also decreased 6 points. The proportion of firms reporting higher employment than a year ago fell 2 points.

Cost and inflation pressures remained intense. Expected costs rose 2 points to a net 75 percent expecting higher costs ahead. A net 53 percent of respondents plan to raise their prices, up 6 points to a fresh record high, the survey showed.

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