New Zealand Business Confidence Point to Solid Underlying Momentum -- Market Talk

2245 GMT [Dow Jones]--NZIER's 2Q QSBO was steady on Q1's survey results with 18% of firms expecting better business conditions in the coming months. Firms' domestic trading activity views eased slightly, both for the quarter just experienced and expectations for the quarter ahead, but all key activity indicators remain above long-term averages and point to good underlying momentum. ASB points out that the QSBO survey results weren't as positive as in the recent ANZ business survey, but this "is to be expected, as the QSBO doesn't include the agriculture sector that has had a big confidence boost from the firm milk price guidance Fonterra has recently given." They continue to expect the RBNZ will remain on hold until late 2018.

(END) Dow Jones Newswires

July 03, 2017 19:00 ET (23:00 GMT)