New Zealand: Consumer confidence rises in June
Latest reading: The ANZ-Roy Morgan consumer confidence indicator lifted to 91.3 in June, following May’s 86.5. The latest reading marked a further recovery from recent lows, returning the index to around its March level, though it was still 16 points below its January peak.
In June, households became less negative across several major components. Perceptions of current personal financial situations improved slightly, with the net balance lifting from -25% to -23%, while expectations for personal finances over the next 12 months eased from +12% to +10% but remained well above April’s low. Households became notably less pessimistic about the general economic situation over the next 12 months, with the net balance rising from -36% to -23%, while the five-year economic outlook edged up from +2% to +3%. Willingness to make large purchases improved materially, with the net balance rising from -20% to -11%, consistent with signs of recovering retail activity.