NZ: Business activity and confidence fell in June - TDS

TD Securities analysts note that New Zealand’s Business Activity and Confidence fell in June as the confidence index fell to -38.1 from -32.0 and the Activity outlook gauge dipped to 8.0 from 8.5.

Key Quotes

“Inflation expectations edged higher to 1.87% from 1.81% while most activity indicators were little changed, remaining at relatively weak levels. Residential building intentions "continue to suggest a marked fall in building activity'' and a net 12% of firms in the construction sector are intending to cut jobs.”