NZ consumers are feeling average according to the ANZ-Roy Morgan Consumer Confidence Index, which slipped 1 point to 120 in June – its lowest level since August 2016, points out the research team at ANZ.
Key Quotes
“On a seasonally adjusted basis the index fell 2 points, also at 120.”
“The Current Conditions Index rose 1 point to 125.7 in June, exactly in line with its 12-month average and well above its historical average of 116.7. The Future Conditions Index fell 2 points to 116.2; well below its average (121.7).”
“Consumers’ perceptions of their current financial situation lost 2 points, with a net 11% feeling financially better off than a year ago.”
“Confidence fell a further 2 points in Auckland, which remains the least confident region. The rest of the North Island is also relatively subdued. Regional South Island and Wellington confidence both slipped 3 points.”
“Expectations for national house price inflation dipped from 3.7% y/y to 3.6%, with Wellingtonian expectations no longer leading the pack, down 1%pt to 3.2%. General inflation expectations were unchanged at 3.9%.”
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