New Zealand: Consumers grow less pessimistic in December
The ANZ-Roy Morgan consumer confidence indicator rose to 98.3 in December from November’s 98.3. However, the index remained entrenched below the 100-threshold that separates optimism from pessimism among consumers.
December’s result was driven by consumers’ improving confidence with regards to the one-year and five-year general economic outlook. Moreover, households’ willingness to buy big-ticket items strengthened. On the other hand, expectations of their financial situation in one year view turned less optimistic.
Commenting on the release, Sharon Zollnern analyst at ANZ, stated:
“Hanging over everything is the dark cloud of COVID – we have done a great job to get the double-dosed population as high as it is, but the Omicron variant has abruptly moved the finish line to three doses.”