28.05.201923:59:00UTC+00New Zealand Business Confidence Improves In May

New Zealand business sentiment strengthened in May on firms' assessment about own activity, survey results from ANZ showed Wednesday.

The headline business confidence index rose by 6 points to net -32 percent in May.

Firms' expectations for their own activity lifted 2 points to a net 9 percent expecting a lift. Manufacturing was the most optimistic sector and construction was the least. A net 3 percent of firms were expecting to lift investment, up 1 point from April.

Employment intentions declined by 4 points, while profit expectations gained 3 points. Firms' pricing intentions rose 2 points to +29 percent. Meanwhile, export intentions fell 2 points.

Commercial construction intentions slid 12 points and residential declined 7 points to a fresh 10-year low.