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New Zealand Consumer Confidence October 2023

New Zealand: Consumer confidence improves in October

The ANZ-Roy Morgan consumer confidence indicator rose to 88.1 in October from 86.4 in September. Therefore, the index remained entrenched below the 100-threshold that separates optimism from pessimism among consumers.

In October, households’ expectation over their financial situation in 12 months improved. Moreover, households’ expectation over the country’s economic situation over the next 12 months and five years improved.

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

“The October survey is another mixed bag for the RBNZ. Willingness to spend is low, as the RBNZ requires, but consumers’ inflation expectations are still inconsistent with the inflation target, and there hasn’t been much progress on that front in recent months..”

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