ANZ-Roy Morgan New Zealand Consumer Confidence dropped 7.5 points to 120.5 in April, sitting slightly above its historical average.
ANZ-Roy Morgan New Zealand Consumer confidence dropped 7.5 points to 120.5 in April, sitting slightly above its historical average.
• Both current and future conditions indexes fell, the latter by more.
• A strong labour market, low interest rates and a steady housing market are supporting sentiment. Nonetheless, consumers appear to be feeling a little less bullet-proof, consistent with our view the saving rate will lift.
Consumers appear to have mixed views at present. The ANZ-Roy Morgan Consumer Confidence Index fell 7.5 points from 128.0 to 120.5 in April. This is just above the average of the series since its inception in 2004. On a seasonally adjusted basis the story was similar: the index fell 8 points to 118.7.The Current Conditions Index fell 5 points to 123.1 in April, while the Future Conditions Index fell 9 points to 118.7.
The Current Conditions Index fell 5 points to 123.1 in April, while the Future Conditions Index fell 9 points to 118.7. The former is above average, the latter a touch below it, but both remain within the range prevailing over recent years. The former is above average, the latter a touch below it, but both remain within the range prevailing over recent years.
• Consumers’ perceptions of their current financial situation dipped 7 points to a net 9% feeling financially better off than a year ago.
• A net 25% of consumers expect to be better off financially this time next year, down 10 points.
• A net 37% say it’s a good time to buy a major household item, down 2 points. This is still strong and bodes well for durables spending.
• Perceptions regarding the next year’s economic outlook fell a sharp 12 points to +13%, back to its December low. The five-year outlook eased 7 points from +25% to +18%, the lowest since May last year.
• Confidence fell in every region. Wellington remains the most confident region, while confidence in Canterbury fell 13 points to be the weakest.
• National house price expectations lifted from 3.5% to 4.1% and are strongest amongst Wellingtonians (4.9%). Inflation expectations lifted from3.4% to 4.0% and are strongest in Auckland. Apart from 1-month spikes in January 2012 and November 2015, nationwide inflation expectations, while volatile, have been in a 3-4% range since mid-2011.
Click here to download the latest ANZ-Roy Morgan New Zealand Consumer Confidence Release PDF - April 2018.
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Related Research Reports
The latest Roy Morgan Consumer Confidence Monthly Report is available on the Roy Morgan Online Store. It provides demographic breakdowns for Age, Sex, State, Region (Capital Cities/ Country), Generations, Lifecycle, Socio-Economic Scale, Work Status, Occupation, Home Ownership, Voting Intention, Roy Morgan Value Segments and more.
You can also view our monitor of Quarterly New Zealand Unemployment & Under-employment Estimates.