NZ consumer confidence rises to 22-month high

NZ consumer confidence rises to 22-month high on economic outlook

Oct. 27 (BusinessWire) – New Zealand consumer confidence climbed to a 22-month high as kiwis anticipate better times ahead, which may encourage them to buy big-ticket items, according to the ANZ-Roy Morgan Consumer Confidence poll.

The measure rose 5.9 points to 125.9 this month, on a scale where a reading of 100 separates optimists from pessimists, the fourth straight month of gains.

The latest survey shows a divergence between present circumstances and future expectations, with a net 17% of those polled saying they are worse off than a year ago and a net 43% expecting to be better off in 12 months time. Looking out five years, a net 57% expect good times ahead.

Consumers are feeling better about buying major household items, with a net 13% saying now is a good time to buy, up from a net 3% in last month’s survey.

This month’s survey asked where consumers see inflation heading, with an annual rate of 3.8% expected on average over the next two years.

(BusinessWire)

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