New Zealand: Business confidence rises in July
Business confidence came in at 27.1 in July, up notably from June’s 6.1. July’s result marked the best reading since February. Firms’ views on their own activity outlook, export intentions and investment intentions all improved in July, while inflation expectations declined.
That said, reported past activity—which has the strongest correlation with GDP—declined further in July, pointing to soft economic momentum at the outset of Q3.