NZ: Consumer confidence remains about par - ANZ

Sharon Zollner Chief Economist at ANZ, notes that New Zealand’s consumer confidence remains about par, according to the ANZ-Roy Morgan Consumer Confidence Index, which was unchanged in August at 118, around the historical average.

Key Quotes

“The Current Conditions Index fell 1 point to 124 in August, while the Future Conditions Index was unchanged at 114, below its long-run average (122).”

“Consumers’ perceptions of their current financial situations slipped 2 points, with a net 12% feeling financially better off than a year ago.”

“A net 26% of consumers expect to be better off financially this time next year, up 1 point.”

“Expectations for national house price inflation eased from 3.7% to 3.4% y/y, with the bounce losing steam.”

“General inflation expectations ticked up a smidgen to 4.0% – they have been fairly steady around these levels since taking a step up in March.”