New Zealand: Consumer confidence improves again in November
The ANZ-Roy Morgan consumer confidence indicator rose to 91.9 in November from 88.1 in October. Therefore, the index remained entrenched below the 100-threshold that separates optimism from pessimism among consumers.
In November, households’ willingness to to buy major household items improved notably. Moreover, households’ expectation over the country’s economic situation over the next 12 months and five years improved.
Commenting on the release, Sharon Zollner, chief economist at ANZ, stated:
“The yawning gap between the current and forward-looking questions in the survey closed a little this month. This is typical of periods during which the economy is weak, such as 2009-10. More positively, ultimately, it reflects increasing belief that the worst is past.”