New Zealand: Consumer confidence recedes to a six-month low in May
May 31, 2019
The ANZ-Roy Morgan consumer confidence indicator declined to 119.3 in May (April: 123.2), notching a six-month low but remaining well above the 100-point threshold that separates optimism from pessimism among consumers.
Consumers were more pessimistic about current conditions in May from a month earlier, reflecting reluctance to buy big-ticket household items as well as a dimer perception of their current financial situation. Consumers were also less confident about future conditions.
New Zealand Private Consumption Forecast
FocusEconomics panelists expect private consumption to grow 3.1% in 2019, which is up 0.2 percentage points from last month’s forecast, and 2.4% in 2020.