New Zealand Consumer Confidence April 2018

New Zealand

New Zealand: Consumer confidence lets up in April

April 27, 2018

The ANZ-Roy Morgan consumer confidence indicator dropped significantly from 128.0 in March to 120.5 in April, which represented the lowest level since August 2016. Nevertheless, the index remained comfortably above the 100-point threshold that separates optimism from pessimism among consumers.

Both the current and future conditions indices fell in April, although they remained above the 100-point threshold. Consumers were less optimistic about their current financial situation and the prospect of being financially better off in one year compared to in March. Regarding future conditions, households’ perception of the economic outlook for the next year deteriorated, and their impression of the five-year economic outlook also worsened. On a more positive note, households’ willingness to purchase a major household item declined slightly but remained nonetheless strong.

Despite April’s drop, the headline indicator still stands slightly above its historical average. Consumer confidence levels have been buoyant against the backdrop of a tight labor market and low borrowing costs. That said, the dip likely reflects consumers’ growing concerns about future conditions.

FocusEconomics panelists expect private consumption to grow 3.0% in 2018, which is up 0.6 percentage points from last month’s forecast. The panel forecasts private consumption growth of 2.5% in 2019.


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New Zealand Consumer Confidence Chart

NewZealand Monthly Consumer Confidence April 2018

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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