Sharon Zollner, Chief Economist at ANZ, points out that the New Zealand’s consumer confidence is gradually declining due to increased wariness about what the future may bring, according to the ANZ-Roy Morgan Consumer Confidence Index.
“The overall index dipped 3 points, taking it under the historical average. The Current Conditions Index lifted 2 points to 122, but the Future Conditions Index fell 5 points to 111, the lowest level since September 2015.”
“Consumers’ perceptions of their current financial situations dipped 1 point to a net 11% feeling financially better off than a year ago”
“House price inflation expectations dropped to 2.7% y/y, lower everywhere.”
“Inflation expectations lifted a tad from 3.4% to 3.5%, a pretty muted move in light of recent petrol price increases.”