All Blacks’ Rugby World Cup final loss a threat to economic optimism – ANZ

Business confidence bounced back last month.

The ANZ Business Confidence Index rose 21 points to a positive 23 in October, with the outlook for firms’ own activity up 12 points, also to positive 23.

Activity indicators jumped in the first half of the month and then jumped again in the second half following the All Blacks’ successful progression to the World Cup final and the election.

However, ANZ said the Reserve Bank will be looking to see more progress on inflation as expectations remained high, outside of the agricultural sector.

“Before we judge the importance for the economic outlook, particularly given the noise of the election