ANZ Bank's Business Outlook for November is a mixed bag.
Business Confidence fell 3 points from October, a slight improvement on the preliminary reading.
The reading of Own Activity Outlook fell by 7 points which is trending down.
JMI Wealth director Andrew Kelleher told Mike Hosking it's a very clear signal that inflation pressures are extreme.
He said he's a little bit worried about Profit Expectations, which is lower.
“We're sort of feeling OK about the economy about the macro-level at the moment, that's the big picture, but at a micro-level, that situation is not as clear.” 
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