The ANZ-Roy Morgan Consumer Confidence Index fell just a smidgen in February, and is still solid. Households are feeling pretty good about life.
New Zealand consumers are feeling pretty happy with their lot at the moment – the lifting housing market is making homeowners feel richer, job opportunities are relatively plentiful, and interest rates are low. Expectations of good times continuing will support spending today. But as our Business Outlook survey yesterday showed, businesses are becoming more worried about the outlook. For our part, we have been revising down our growth forecasts markedly in response to the global COVID-19 outbreak.
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