New Zealand business confidence February -43.3% (prior -52%)

ANZ New Zealand business survey for February

Business confidence for February -43.3%

Activity -9.2%

ANZ comment;

• Pricing intentions continue to inch lower but inflation expectations
  remain stuck around 6%.
• There was a marked drop in expected wage
  growth, however.

And highlight the key themes of the February survey:

• Activity measures rose, led by the construction and services sectors.
• Inflation and pricing indicators barely moved; pressures clearly remain
  intense