New Zealand: Consumer confidence ticks up in February
March 2, 2018
The ANZ-Roy Morgan consumer confidence indicator rose for the second consecutive month in February, increasing to 127.7 from 126.9 in January. The index now sits further above the 100-point threshold that separates optimism from pessimism among consumers.
February’s improvement resulted from an increase in the future conditions index. Consumers grew more optimistic regarding their financial situation in 12 months’ time and the economic situation over the next five years. The current conditions index dropped compared to the prior month, with consumers growing less willing to make major purchases and marginally less positive regarding their current financial situation. However, both indices remained well above the 100-point threshold. The tight labor market is likely driving upbeat sentiment—the unemployment rate dipped to a near-decade low in Q4.
Author: Oliver Reynolds, Economist