Issue Date Title One-line summary
#13 17 Aug 2026 The Leading Signals Are Improving. The Recovery Is Still Uneven. Business confidence and GDP expectations improve while unemployment, wages and inflation remain soft, leading and current signals are telling different stories.
#12 10 Aug 2026 The Recovery Is Real. The Signals Are Mixed. Business confidence hits its strongest since February while unemployment reaches its highest since 2015, an uneven recovery with mixed signals for NZ operators.
#11 3 Aug 2026 Optimism Up. Margins Still Under Pressure. ANZ Business Confidence jumps to 56.1, but freight, fuel and dairy costs have not improved at the same pace, confidence is recovering faster than margins.
#10 27 Jul 2026 Two Chokepoints. One Invoice. Global freight eases while NZ freight surges, oil hits $100 as Hormuz and Bab el-Mandeb are disrupted simultaneously, and NZ inflation confirms at 4.1%.
#9 20 Jul 2026 The Peak Is Passing. The Pressure Isn't. Freight eases for the first time in ten weeks, but oil, tariffs and inflation keep the pressure on.
#8 13 Jul 2026 The Recovery Is Real. So Are the Costs. Manufacturing hits a five-year high as freight, rates and dairy all move against operators.
#7 6 Jul 2026 Confidence Returned. Capacity Didn't. Business confidence surges to +36.6, but freight hits a new high and capacity stays tight.
#6 29 Jun 2026 The War Premium Is Gone. The Freight Problem Isn't. Oil falls 10% and the conflict premium unwinds, but freight hits an 18-month high anyway.
#5 22 Jun 2026 The Deal Got Signed. Freight Hit an 18-Month High Anyway. The Hormuz deal is signed and oil drops 8.5%, but freight and NZ activity data tell a different story.
#4 15 Jun 2026 Costs Are Still Ahead of Relief Freight rises again as a Hormuz deal edges closer but isn't yet signed. Relief is signalled, not delivered.
#3 8 Jun 2026 The Cost Base Is Moving Again Freight surges 23% in a single week even as oil softens. Operational cost relief isn't following.
#2 1 Jun 2026 Recovery Signals, Operational Pressure The RBNZ holds and Budget 2026 prioritises resilience, but freight stays elevated and the recovery is uneven.
#1 25 May 2026 Signals vs Pressure: The Divergence That Matters Oil falls on diplomatic optimism while freight climbs on operational reality — the gap that now matters commercially.