New Zealand Consumer Confidence May 2018

New Zealand

New Zealand: Consumer confidence ticks up in May

June 1, 2018

The ANZ-Roy Morgan consumer confidence indicator ticked up to 121.0 in May from 120.5 in April, which had marked the lowest reading since August 2016. The index now sits slightly further above the 100-point threshold that separates optimism from pessimism among consumers.

May’s improvement resulted from an increase in the current conditions index over the previous month, as consumers grew more upbeat regarding their current financial situation. Households’ willingness to make major purchases declined marginally, but remained strong. Meanwhile, the future conditions index dropped slightly compared to April, with consumers turning slightly less optimistic in their one- and five-year outlooks regarding the general economic situation. Households’ expectation of their financial situation in 12 months’ time, however, improved slightly from the previous month.

All told, consumer confidence remains strong against a backdrop of a tight labor market and low interest rates, both boing well for private consumption going forward.

FocusEconomics panelists expect private consumption to grow 3.0% in 2018, which is unchanged from last month’s forecast. The panel forecasts private consumption growth of 2.4% in 2019.

Author:, Economist

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New Zealand Consumer Confidence Chart

NewZealand Monthly Consumer Confidence May 2018

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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