• Economic growth outlook firm
• A higher dairy payout forecast to add support?
• Friday’s business survey should remain upbeat
• But inflation indicators still soft
• The RBNZ conundrum continues
Evidence that the economy has a firm growth pulse continues to build. This week’s information should maintain the theme, with Friday’s ANZ business survey probably the market’s data focus. Buoyant company expectations should traverse such things as business confidence, activity, profits, employment and investment intentions. If these indicators remain within a few points of where they sat a month ago, as we expect, it would be more than enough to support the positive domestic growth story. For reference, the previous own activity reading of +30.3 is consistent with
annual economic growth approaching 4% through 2013.
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BNZ