New Zealand skyline

New Zealand Consumer Confidence March 2021

New Zealand: Consumer confidence dips in March

The ANZ-Roy Morgan consumer confidence indicator dipped to 110.8 in March from February’s 113.1. Nonetheless, it remained comfortably above the 100-threshold that separates optimism from pessimism among consumers.

Consumers’ one-year and five-year general economic outlook deteriorated considerably, likely due to a worse-than-expected GDP reading for the last quarter of 2020. Moreover, the net proportion of households thinking it was a good time to buy major household items declined. On the other hand, households’ expectations about their financial situation in the next 12 months gained ground.

Commenting on the release, Sharon Zollnern analyst at ANZ, stated:

“Households are expecting a lot more inflation than businesses are. They often do, but now the difference is extreme. Businesses set the prices, but that doesn’t mean high household inflation expectations don’t matter. They make it easier for retailers to raise prices, and if the labour market is tight, can also impact wage negotiations.”

Free sample report

Access essential information in the shortest time possible. FocusEconomics provide hundreds of consensus forecast reports from the most reputable economic research authorities in the world.
Close Left Media Arrows Left Media Circles Right Media Arrows Right Media Circles Arrow Quote Wave Address Email Telephone Man in front of screen with line chart Document with bar chart and magnifying glass Application window with bar chart Target with arrow Line Chart Stopwatch Globe with arrows Document with bar chart in front of screen Bar chart with magnifying glass and dollar sign Lightbulb Document with bookmark Laptop with download icon Calendar Icon Nav Menu Arrow Arrow Right Long Icon Arrow Right Icon Chevron Right Icon Chevron Left Icon Briefcase Icon Linkedin In Icon Full Linkedin Icon Filter Facebook Linkedin Twitter Pinterest