NZ Treasury: High frequency indicators show a tick up in economic activity, though it remains well below normal levels

New Zealand’s (NZ) Treasury is out with its monthly economic indicators report, with the key highlights found below.

New Zealand moved to Alert Level 3 on 27 April, allowing many businesses to reopen. 

High frequency indicators show a tick up in economic activity, though it remains well below normal levels. 

Data from March show exports held up strongly despite the effects of the COVID-19 pandemic. 

The finalised ANZ Business Outlook Survey for April showed business confidence improved slightly from the preliminary read released on 8 April, but remains firmly negative.

• NZD/USD tests 5-day MA below 0.61