ANZ business survey, business confidence and activity both lower than in March. April 2 was when Trump announced his huge tariffs, though he did back track on them somewhat.
- Business confidence fell 9 points to 49.3
- Expected own activity fell 1 point to 47.7
ANZ comments:
- past own activity (the best GDP indicator in
the survey) jumped 10 points from 1 to 11, while past employment jumped 8
points, from -6 to 2. - Most forward-looking activity indicators were sharply lower
in the late-month responses. - Pricing and cost indicators indicate margin squeeze from ongoing cost
pressures. One-year-ahead inflation expectations were little changed at 2.65%.
more to come
This article was written by Eamonn Sheridan at www.forexlive.com.