New Zealand: Consumer confidence virtually unchanged in March
April 18, 2018
The ANZ-Roy Morgan consumer confidence indicator ticked up marginally from 127.7 in February to 128.0 in March. The index remains above the 100-point threshold that separates optimism from pessimism among consumers.
Both the current and future conditions indices saw little change in March and are comfortably above the 100-point threshold. While consumers grew more optimistic regarding economic conditions over the next twelve months, the five-year outlook eased somewhat. Consumers continue to feel generally positive regarding their current financial situation and willing to purchase major household items, which bodes well for private consumption. The tight labor market is likely driving upbeat sentiment—the unemployment rate dipped to a near-decade low in Q4.
New Zealand Private Consumption Forecast
FocusEconomics panelists expect private consumption to grow 2.4% in 2018 and 2.4% again in 2019.
Author: Oliver Reynolds, Economist