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New Zealand Consumer Confidence February 2023

New Zealand: Consumer confidence decreases in February

The ANZ-Roy Morgan consumer confidence indicator dropped to 79.8 in February from 83.4 in January. Therefore, the index remained entrenched below the 100-threshold that separates optimism from pessimism among consumers.

In February, households’ assessments of their financial situation worsened, as did their expectations over the general economic situations in 12 months and five years view and their willingness to buy big-ticket items.

Commenting on the release, Sharon Zollner, chief economist at ANZ, stated:

“The longer inflation expectations of both consumers and businesses remain at levels inconsistent with the inflation target, the more concerned the Reserve Bank will be that high inflation is becoming normalised and anticipated in decision making.”

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