Roy Morgan Research
March 01, 2024

ANZ-Roy Morgan New Zealand Consumer Confidence up 0.9 pts to 94.5 in February

Topic: Consumer Confidence
Finding No: 9478

ANZ-Roy Morgan New Zealand Consumer Confidence rose another 0.9 pts in February to 94.5, driven by a lift in perceptions of future conditions - this is the highest Consumer Confidence in New Zealand for over two years since January 2022 (97.7).

• Inflation expectations lifted for a second month, up from 4.3% to 4.5%.

Turning to the detail:

• The future conditions index, made up of forward-looking questions, rose 2 points to 101, while the current conditions index was unchanged at 85.

• Perceptions of current personal financial situations were unchanged at a net figure of -12%, still low, but 18 points higher than a year ago with 24% of New Zealanders saying they are 'Better Off' financially than this time last year compared to 37% that say they are 'Worse Off'.

• A net +18% expect to be better off this time next year, down 1 point from a month ago, with 41% (down 4% points) of New Zealanders saying they expect to be 'Better Off' financially this time next year compared to only 24% (down 2% points) who expect to be 'Worse Off'.

• In addition, a net +18% think it’s a bad time to buy a major household item, up 1 point from a month ago. Again, still low, but well off its July-2023 low of -39%. Now 45% (down 2% points) say it's a 'Bad Time to Buy' a major household item compared to 28% (down 1% point) say it's a 'Good Time to Buy' a major household item.

• Net perceptions regarding the economic outlook in 12 months’ time lifted 2 points to -20% (still the lowest of all five indices) and the long-term 5-year-ahead measure lifted 4 points to +5%.

• House price inflation expectations rose from 3.9% to 4.1% year-over-year.

• Two-year-ahead CPI inflation expectations lifted from 4.3% to 4.5%. Household inflation expectations can be volatile, but they did a good job of identifying the inflation pick-up promptly in 2020, so are worth watching.

Check out the latest data of ANZ-Roy Morgan New Zealand Consumer Confidence here: ANZ-Roy Morgan New Zealand Consumer Confidence

For comments or more information please contact:
Roy Morgan - Enquiries
Office: +61 (03) 9224 5309

Margin of Error

The margin of error to be allowed for in any estimate depends mainly on the number of interviews on which it is based. Margin of error gives indications of the likely range within which estimates would be 95% likely to fall, expressed as the number of percentage points above or below the actual estimate. Allowance for design effects (such as stratification and weighting) should be made as appropriate.

Sample Size Percentage Estimate
40% – 60% 25% or 75% 10% or 90% 5% or 95%
1,000 ±3.0 ±2.7 ±1.9 ±1.3
5,000 ±1.4 ±1.2 ±0.8 ±0.6
7,500 ±1.1 ±1.0 ±0.7 ±0.5
10,000 ±1.0 ±0.9 ±0.6 ±0.4
20,000 ±0.7 ±0.6 ±0.4 ±0.3
50,000 ±0.4 ±0.4 ±0.3 ±0.2
Back to topBack To Top Arrow