New Zealand skyline

New Zealand Consumer Confidence November 2022

New Zealand: Consumer confidence falls in November

The ANZ-Roy Morgan consumer confidence indicator fell to 80.7 in November from 85.4 in October. Therefore, the index moved further below the 100-threshold that separates optimism from pessimism among consumers.

In November, households expectations of their financial situation in one year view worsened, as did their expectations over the general economic situations in five years view and their willingness to buy big-ticket items.

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

“At its Monetary Policy Statement this week the Reserve Bank made it clear that they need to see much lower spending growth in order to bring down persistently high inflation. So far, theyve been struggling to get traction with households who have been feeling confident about the income side of the equation. But the RBNZ upped the freak-out factor considerably this week with their forecasts of much higher interest rates, much lower growth, and unemployment reaching 5.7%. The reverberations of that seem likely to show up in the data relatively quickly.”

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 X Download Fullscreen