Sharon Zollner, chief economist at ANZ, points out that New Zealand’s consumer confidence is making a comeback, with the ANZ-Roy Morgan Consumer Confidence Index now 7 points off its October low.
Key Quotes
“The overall index rose 3 points in December and sits a little above the historical average. The Current Conditions Index lifted 3 points to 124 while the Future Conditions Index rose 4 points to 121.”
“Consumers’ perceptions of their current financial situation lifted 1 point to a net 11% feeling financially better off than a year ago.”
“Inflation expectations lifted 0.8%pts to 4.2%. This series is volatile, but it’s notable that this is the highest read since 2012. However, falling petrol prices mean the lift is unlikely to be sustained.”
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