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.”