New Zealand skyline

New Zealand Consumer Confidence May 2023

New Zealand: Consumer confidence virtually unchanged in May

The ANZ-Roy Morgan consumer confidence indicator dipped to 79.2 in May from 79.3 in April. Therefore, the index remained entrenched below the 100-threshold that separates optimism from pessimism among consumers.

In May, households’ expectation over their financial situation in 12 months view worsened, while their expectations over the general economic situations in five years view improved.

Commenting on the release, Sharon Zollner, chief economist at ANZ, stated:

“Consumers remain under pressure. While the labour market remains tight, conferring both a high degree of job security and strong wage growth, ongoing cost of living increases, including higher mortgage rates for the 38% of households who have a mortgage, continue to bite. Uncertainty is no doubt also taking a toll, with the RBNZ still attempting to cool the economy in order to bring inflation sustainably lower.”

Free sample report

Access essential information in the shortest time possible. FocusEconomics provide hundreds of consensus forecast reports from the most reputable economic research authorities in the world.
Close Left Media Arrows Left Media Circles Right Media Arrows Right Media Circles Arrow Quote Wave Address Email Telephone Man in front of screen with line chart Document with bar chart and magnifying glass Application window with bar chart Target with arrow Line Chart Stopwatch Globe with arrows Document with bar chart in front of screen Bar chart with magnifying glass and dollar sign Lightbulb Document with bookmark Laptop with download icon Calendar Icon Nav Menu Arrow Arrow Right Long Icon Arrow Right Icon Chevron Right Icon Chevron Left Icon Briefcase Icon Linkedin In Icon Full Linkedin Icon Filter Facebook Linkedin Twitter Pinterest