New Zealand: Consumer confidence stable in September
The ANZ-Roy Morgan consumer confidence indicator remained unchanged at August’s 85.4 in September. Therefore, the index remained entrenched below the 100-threshold that separates optimism from pessimism among consumers.
In September, households’ expectations of their financial situation in one year view improved, and consumers had stronger confidence with regards to the 12-month general economic outlook. However, their willingness to buy big-ticket items declined.
Commenting on the release, Sharon Zollner, chief economist at ANZ, stated:
“Living costs are rising, house prices are falling, and mortgage rates are going up. However, the big win for households is the still super-tight labour market, which is contributing to strong job security and solid wage growth.”