New Zealand Consumer Confidence July 2021

New Zealand

New Zealand: Consumer optimism softens in July

July 30, 2021

The ANZ-Roy Morgan consumer confidence indicator edged down to 113.1 in July from June’s 114.1. That said, the index remained above the 100-threshold that separates optimism from pessimism among consumers.

July’s result was largely driven by consumers’ deteriorating confidence with regards to the one-year general economic outlook. Moreover, households’ assessments of their financial situation compared to one year ago turned less optimistic. On a brighter note, consumers were more inclined to buy big-ticket items compared to the previous month, while their expectations with regards to the five-year general economic outlook turned rosier. Meanwhile, perceptions regarding inflation softened, although a higher share of respondents compared to the prior month expected housing prices to climb in the next two years.

FocusEconomics panelists project private consumption to grow 8.6% in 2021, which is up 2.8 percentage points from last month’s forecast. They see it expanding 2.5% in 2022.

Author: Massimo Bassetti, Senior Economist

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New Zealand Consumer Confidence Chart

New Zealand Monthly Consumer Confidence July 2021

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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