New Zealand: Consumer confidence improves again in February
The ANZ-Roy Morgan consumer confidence indicator rose to 94.5 in February from 93.6 in January. However, the index remained entrenched below the 100-threshold that separates optimism from pessimism among consumers.
In February, households’ expectations of the country’s economic situation in the next 12 months and five years improved. Additionally, households were more willing to buy big-ticket items.
Commenting on the release, Sharon Zollner, chief economist at ANZ, stated:
“This month saw the perceptions gap close over whether it’s a good time to spend between those paying off a mortgage and those who are not. This may be related to the recent fall in carded mortgage rates, but the average rate that households are actually paying continues to creep higher as rollovers continue.”