New Zealand Consumer Confidence November 2020

New Zealand

New Zealand: Consumer confidence dips in November

November 27, 2020

The ANZ-Roy Morgan consumer confidence indicator declined to 106.9 in November from October’s 108.7. However, it remained above the 100-threshold that separates optimism from pessimism among consumers.

Households’ assessments about their current financial situation and over the next 12 months lost some ground. Moreover, consumers’ five-year general economic outlook fell significantly although their expectations regarding next year’s economic outlook improved somewhat. Meanwhile, the net proportion of households thinking it was a good time to buy major household items remained broadly unchanged.

FocusEconomics panelists project private consumption to grow 4.5% in 2021, which is down 0.4 percentage points from last month’s forecast. They see it expanding 3.1% in 2022.

Author: Massimo Bassetti, Senior Economist

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New Zealand Consumer Confidence Chart

New Zealand Monthly Consumer Confidence November 20 20

Note: Monthly consumer confidence index. An index number over 100 indicates more optimists than pessimists, while a number under 100 indicates more pessimists than optimists.
Source: ANZ-Roy Morgan NZ Consumer Confidence Survey.

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