New Zealand Business Sentiment Jumps to 8-Month High

New Zealand’s ANZ Business Outlook Index dropped to 51.9 in September 2026 from 53.7 in the prior month, marking the lowest reading since June. The latest result highlighted a further moderation in business confidence amid ongoing cost pressures and uncertainty over the economic outlook. Expected own activity was steady (47.9 vs 48.2 in August), while assessments of past activity weakened (10.8 vs 16.4). Forward-looking indicators eased, including export intentions (30.0 vs 31.4), employment intentions (17.9 vs 19.3), and profit expectations (22.5 vs 23.1). Investment intentions edged up (22.6 vs 22.1), while pricing intentions slowed (48.4 vs 51.0). Cost expectations inched up (81.9 vs 80.8), and wage growth expectations increased (2.83% vs 2.62%). Inflation expectations were little changed (3.25% vs 3.26%), and credit availability deteriorated (-0.3 vs 2.4). By sector, residential construction improved (22.2 vs 15.5), while commercial construction slowed slightly (23.6 vs 24.6).

New Zealand’s ANZ Business Outlook Index slipped to 53.7 in August 2026 from July’s five-month peak of 56.1. Expected own activity eased (48.2 vs 49.3 in July), but remained at a historically strong level, while assessments of past activity strengthened (16.4 vs 9.7). Forward-looking indicators were mixed: export intentions improved (31.4 vs 26.6), and employment intentions rose (19.3 vs 18.1), while profit expectations fell (23.1 vs 28.7) and investment intentions edged down (22.1 vs 22.8). Meanwhile, cost pressures showed signs of intensifying, with pricing intentions rising (51.0 vs 47.2), cost expectations climbing (80.8 vs 78.2), and wage growth expectations edging up (2.62% vs 2.52%). Inflation expectations also increased (3.26% vs 3.14%), suggesting persistent price pressures. Credit availability improved (2.4 vs 1.4). Sectoral sentiment weakened, particularly in commercial construction (24.6 vs 29.3) and residential construction (15.5 vs 27.0).

New Zealand’s ANZ Business Outlook Index surged to 56.1 in July 2026 from 36.6 in the previous month, marking the strongest reading since February. Firms’ own activity outlook strengthened markedly (49.3 vs 36.9 in June), while assessments of past activity edged higher (9.7 vs 9.0), supported by easing oil prices as tensions in the Middle East continued to subside. Forward-looking indicators rose, with stronger export intentions (26.6 vs 18.1), profit expectations (28.7 vs 13.0), investment intentions (22.8 vs 16.5), and employment intentions (18.1 vs 9.4). At the same time, pricing intentions (47.2 vs 50.7), cost expectations (78.2 vs 84.7), and inflation expectations (3.14% vs 3.36%) all moderated, while wage growth expectations were broadly steady (2.52% vs 2.53%). Further, credit availability turned positive (1.4 vs -1.9). Sectoral sentiment strengthened notably in construction, with confidence rising in both residential (42.5 vs 25.0) and commercial construction (48.9 vs 28.9).