New Zealand: Consumers grow more pessimistic in January
The ANZ-Roy Morgan consumer confidence indicator dipped to 97.7 in January from December’s 98.3. Consequently, the index moved further below the 100-threshold that separates optimism from pessimism among consumers.
January’s result was driven by consumers’ declining confidence with regards to the one-year general economic outlook. Moreover, households’ willingness to buy big-ticket items weakened. Additionally, expectations of their financial situation in one year view worsened.