New Zealand’s ANZ Business Outlook Index rose to 52.5 in October 2026 from September’s three-month low of 51.9, indicating continued business optimism despite headwinds from higher oil prices. Expected own activity eased (46.2 vs 47.9 in September), while assessments of past activity improved (15.0 vs 10.8). Export intentions strengthened (32.6 vs 30.0), with profit expectations edging higher (23.7 vs 22.5), while employment intentions inched lower (17.4 vs 17.9). Investment intentions weakened (18.3 vs 22.6), while pricing intentions increased (52.2 vs 48.4). Cost expectations held steady at 81.9, and wage growth expectations eased slightly (2.79% vs 2.83%). Inflation expectations moved a bit higher (3.31% vs 3.25%), amid improvement in credit availability (0.5 vs -0.3). By sector, both residential construction (19.4 vs 22.2) and commercial construction (18.6 vs 23.6) moderated.