Both headline business confidence and firms' views of their own activity were steady in October at low levels, up 1 point and down 1 point respectively.

Employment intentions lifted 1 point, profit expectations declined 2 points, and investment intentions bounced 6 points but remained negative.

Both residential and commercial construction intentions dropped sharply.

In the October ANZ Business Outlook Survey headline business confidence lifted 1 point to a net 37% of respondents reporting they expect general business conditions to deteriorate in the year ahead. Firms' perceptions of their own activity prospects eased 1 point to a net 7% expecting an improvement, a weak level. The retail sector bounced 5 points but remains the least positive (-8%), while manufacturing is now t