The latest ANZ Business Outlook Survey has recorded a drop in business confidence and activity levels - but another rise in inflation expectations. Costs are still rising rapidly, and passing these costs on has become more difficult as customers become more price sensitive," ANZ senior economist Miles Workman said. Expectations of future inflation rose again to over 6% after falling in the September survey. Back on the survey more generally, Workman said the survey asks firms their expected costs in three months’ time relative to today. "The economic outlook is certainly murky, but the New Zealand economy has a lot going for it.

Source: Stuff October 26, 2022 03:17 UTC