New Zealand Consumer Confidence

New Zealand

New Zealand: Consumer confidence improves in Q4

December 21, 2015

The Westpac-McDermott Miller consumer confidence indicator rose from the 106.0 points recorded in Q3 to 110.7 points in Q4 2015. The reading marked the best result in half a year. As a result, the index was further above the 100-point threshold that indicates that optimists outnumber pessimists.

The improvement in Q4 reflected that consumers assessed both present and future economic conditions better than they did in the previous quarter. However, only two of the five sub-categories of the index improved in Q4, with a rebound in the one-year economic outlook mostly driving the indicator’s rise. According to Westpac, “this pick-up in confidence comes on top of other signs that the economy is continuing to hum along at a solid pace in the final part of the year. And with the RBNZ not only coming to the party, but also spiking the punch with 100bp of interest rate cuts in recent months, it’s shaping up to be a good season for many retailers.”

FocusEconomics Consensus forecast participants expect private consumption to expand 3.1% in 2016, which is up 0.1 percentage points from last month’s projection. For 2017, the panel sees private consumption increasing 2.4%.

Author:, Economist

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New Zealand Consumer Confidence Chart

New Zealand Consumer Confidence Q4 2015

Note: Quarterly consumer confidence index. An index number over 100 indicates more optimists than pessimists, while a number under 100 indicates more pessimists than optimists.
Source: Westpac-McDermott Miller Consumer Confidence Survey.

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