7 Jul 2014
New Zealand's NZIER Business Confidence expected to hold up reasonably well - BNZ
FXStreet (Łódź) - Spiros Papadopoulos from BNZ projects the NZIER Quarterly Survey of Business Opinion (QSBO) to hold up reasonably well, consistent with above-trend economic growth and thus firming pressure on the (underlying) inflation front.
Key quotes
"We’re likely to be left with a fairly robust set of responses, with construction still putting on pounds, manufacturing exhibiting robustness and the services sector continuing to press on. And if there’s any weakness in the merchants’ category of the QSBO it could be because of the mild winter."
"But the QSBO’s distinct news, as always, will be in its various measures of capacity constraint."
"The QSBO gauges on difficulty in finding staff will give good insight into the degree to which the labour market is tightening. The message was “slowly but surely” for the Q1 QSBO. We suspect a similar message from tomorrow’s update."
"The QSBO’s direct inflation indicators – relating to immediate cost and pricing inclinations – might well be restrained for the meantime, still, by the very high New Zealand dollar."
Key quotes
"We’re likely to be left with a fairly robust set of responses, with construction still putting on pounds, manufacturing exhibiting robustness and the services sector continuing to press on. And if there’s any weakness in the merchants’ category of the QSBO it could be because of the mild winter."
"But the QSBO’s distinct news, as always, will be in its various measures of capacity constraint."
"The QSBO gauges on difficulty in finding staff will give good insight into the degree to which the labour market is tightening. The message was “slowly but surely” for the Q1 QSBO. We suspect a similar message from tomorrow’s update."
"The QSBO’s direct inflation indicators – relating to immediate cost and pricing inclinations – might well be restrained for the meantime, still, by the very high New Zealand dollar."