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Financial News: New Zealand Consumer Confidence Improves In October

New Zealand Consumer Confidence Improves In October

10/30/2020 - 00:09:00 (RTTNews)

(RTTNews) - New Zealand consumer sentiment improved in October after easing for three straight months, survey data from ANZ showed on Friday.

The ANZ-Roy Morgan consumer confidence index rose to 108.7 in October from 100.0 in September.

After three consecutive falls, consumers' perceptions of their current financial situation advanced 5 points to +3. A net 28 percent of consumers expect to be better off financially this time next year, which was up 6 points.

A net 11 percent think it was a good time to buy a major household item, which was up 12 points.

Perceptions regarding the next year's economic outlook climbed 14 points to -21 percent in October. The five-year outlook rose 7 points to +22 percent.

House price inflation expectations increased to 4.6 percent. Likewise, general inflation expectations rose 0.6 percentage points to 3.8 percent, the highest since February.

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