New Zealand Consumer Confidence December 2017

New Zealand

New Zealand: Consumer confidence slides further in December

January 12, 2018

The ANZ-Roy Morgan consumer confidence indicator dropped in December for the second consecutive month, from 123.7 in November to 121.8, marking the lowest reading since April. However, the print was still fairly high by historical standards, and the index remains comfortably above the 100-point threshold that separates optimism from pessimism among consumers.

December’s drop was driven by falls in both the current and future conditions indices. Consumers grew less optimistic regarding their financial situation over the next year and the last 12 months, and the economic outlook over the next five years. They also became less willing to purchases major household items. Overall, consumer confidence has remained fairly resilient, despite a weaker housing market, heightened policy uncertainty since September´s election and elevated household debt levels. A robust labor market – the unemployment rate fell to a multi-year low in Q3 – is likely playing a role in supporting sentiment.

New Zealand Private Consumption Forecast

FocusEconomics panelists expect private consumption to grow 2.5% in 2018 and 2.4% in 2019.

Author:, Economist

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New Zealand Consumer Confidence Chart

NewZealand Monthly Consumer Confidence December 2017 0

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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