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New Zealand Consumer Confidence March 2020

New Zealand: Consumer confidence at over seven-year low amid pre-lockdown measures

The ANZ-Roy Morgan consumer confidence indicator plunged to 106.3 in March from February’s 122.1, hit by coronavirus fears and pre-lockdown measures. However, it remained above the 100-threshold that separates optimism from pessimism among consumers, although it will presumably worsen further going ahead.

The number of households thinking it was a good time to buy major household items plunged in March. Moreover, consumers’ expectations on next year’s general economic outlook worsened dramatically, swinging from a timidly positive balance to a strongly negative one. Furthermore, consumers’ expectations over their future personal finances deteriorated substantially, while households’ assessment about their current financial situation compared to one year ago deteriorated to a much lesser extent. The only bright spot was that their five-year general economic outlook improved.

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