New Zealand Consumer Confidence January 2021

New Zealand

New Zealand: Consumer confidence strengthens in January

February 8, 2021

The ANZ-Roy Morgan consumer confidence indicator rose to 113.8 in January from December’s 112.0. Therefore, it marked the best print in 11 months and moved further above the 100-threshold that separates optimism from pessimism among consumers.

Households’ expectations about their financial situation in the next 12 months gained some ground. Moreover, consumers’ one-year general economic outlook improved and the net proportion of households thinking it was a good time to buy major household items widened. On the other hand, expectations regarding next year’s economic outlook weakened slightly.

Commenting on the release, Sharon Zollnern analyst at ANZ, stated:

“A COVID outbreak remains the most significant downside risk for the economy, but every week brings us that much closer to vaccination and a re-opened border.”

FocusEconomics panelists project private consumption to grow 4.5% in 2021, which is down 0.4 percentage points from last month’s forecast. They see it expanding 3.1% in 2022.

Author: Massimo Bassetti, Senior Economist

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New Zealand Consumer Confidence Chart

New Zealand Monthly Consumer Confidence January 2021

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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