New Zealand Consumer Confidence September 2022

New Zealand

New Zealand: Consumer confidence stable in September

October 6, 2022

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.”

FocusEconomics panelists project private consumption to grow 2.5% in 2022, which is unchanged from last month’s forecast. They see it expanding 2.6% in 2023.

Author: Massimo Bassetti, Senior Economist

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