The Australian and New Zealand Banking Group (ANZ) revealed its business confidence index in New Zealand fell to 19.4 in July from 24.8 in June. According to the report, a net 19 percent of respondents assessed their own businesses would grow in 12 months' time. That was down 5 points on last month and reflected "nothing more than seasonal chill". In seasonally adjusted terms, business confidence actually lifted 2 points to 28, the report said.

Expectations eased for profits (to 24.9 from 29.9), pricing (to 27.6 from 31.1), investments (to 23 from 27.4), residential construction (to 10.5 from 18.2) and commercial construction (to 5.6 from 28.5). Meanwhile, employment intentions rose from 24.3 to 25.7, the highest reading since May 2014, while export intentions increased from 27 to 32.7.