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New Zealand ANZ Business Confidence Weakens In July

New Zealand business confidence eased in July, preliminary survey results from ANZ showed on Thursday.

The business confidence index fell to -3.8 in July from -0.6 in June. The own activity outlook index dropped to 26.3 from 31.6 in the previous month.

On the price front, the survey showed that costs continued to rise. Pricing intentions remained extremely high, and inflation expectations continued to lift.

The investment intentions index dropped 9 points to 17.4 percent. At the same time, employment intentions edged up 1 point to 21.4 percent.

The survey showed that capacity utilization, profit expectations and export intentions weakened in July.

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