New Zealand Business Confidence Jumps to 40%, Own Activity Weakens

New Zealand business confidence surged to a net 40% in the September quarter from 14%, signalling optimism about the economic outlook. However, firms' own activity declined to a net 1% from a prior rise, suggesting sentiment strength hasn't yet translated to operational momentum. Cost pressures eased, supporting margins. NZD may gain on improved outlook, though softer activity data tempers bullish conviction.