Nouvelle-Zélande Confiance Des Entreprises

New Zealand’s ANZ Business Outlook Index rose to 47.8 in July 2025 from 46.3 in June, marking a second straight monthly gain and the highest print since April. The improvement was supported by a lift in past own activity (5.9 vs 2.3 in June), though forward-looking activity was little changed (40.6 vs 40.9). Export intentions edged up (14.6 vs 13.9), and employment intentions also improved (11.8 vs 10.8), while investment intentions held steady (19.7 vs 19.9). Pricing intentions fell to their lowest since December 2024, amid easing inflation expectations (2.68% vs 2.71%). Cost expectations dipped but remained high (75.9 vs 79.0), while wage expectations rose (79.1 vs 76.1), pointing to lingering labor market tightness. Credit availability remained broadly stable (15.0 vs 15.9). However, residential construction slumped sharply to a one-year low (16.7 vs 44.8), contrasting with continued strength in commercial construction (28.9 vs 28.1), which stayed positive for a 13th straight month.