Business sentiment dipped in October. The level is still elevated so we are not reading too much into it.

Businesses remain upbeat about the economy, their own prospects, profitability and employment.

The economic cauldron is still boiling away nicely. However, more difficulty in accessing credit and skilled labour could tip some cold water on the fire eventually. That's a normal business cycle in operation so nothing to fret about.

Pricing intentions are (barely) off their lows and inflation expectations are still flat at 1.4%.