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Financial News: New Zealand Consumer Confidence Remains Broadly Unchanged

New Zealand Consumer Confidence Remains Broadly Unchanged In June

07/02/2021 - 01:43:00 (RTTNews)

(RTTNews) - New Zealand consumer confidence remained broadly unchanged in June, survey data from ANZ showed on Friday.

The consumer sentiment index came in at 114.1 in July versus 114.0 in the previous month.

The proportion of people who believe it is a good time to buy a major household item, a key retail indicator, rose 3 points to +22 in July. Perceptions of current financial situations advanced 7 points to +14 percent, by far its strongest post-COVID level.

Further, a net 22 percent expect to be better off this time next year, down 5.

Perceptions regarding the next year's economic outlook rose 4 points to +3 percent, while the five-year outlook fell 8 points to +10 percent.

House price inflation expectations were little changed at 5.8 percent. At the same time, CPI inflation expectations jumped 0.7 percentage points to 5.1 percent, a record high in data that starts in 2010.

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