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ANZ-Roy Morgan NZ Consumer Confidence Rating - November 2009 - 121.5 (Down 4.4pts)
'Taking a breather'

Article No. 973 - The ANZ-Roy Morgan Consumer Confidence Rating was conducted from November 2-15, 2009 across New Zealand by telephone with a cross-section of 1,020 people aged 14 and over. : November 23, 2009

The ANZ-Roy Morgan Consumer Confidence measure bucked a four month rising trend, slipping 4.4 points in November to 121.5. It is too soon to tell whether this is a temporary drop following the previous month's strong gains, or the start of a new trend. Despite the pullback in the month, the level of confidence remains high and well above the 100 neutral reading.

The gulf between our Future Conditions and Current Conditions indexes remain wide. With the economy at an inflection point, it is only natural to expect current conditions to lag expectations somewhat.

Any improvement must start with better expectations towards the future. However, the magnitude of the divide indicates deeper forces that are shaping the outlook. Future Conditions fell 4.6 points to 139.7 but the level remains elevated.

The Current Conditions Index has proven to be the key leading gauge for spending and remains below the key 100 benchmark, falling 4.1 points to 94.2 in November.

Click here to view the full November ANZ-Roy Morgan New Zealand Consumer Confidence Rating PDF

(121.5, down 4.4pts)