Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


NZ consumer confidence gains in November

NZ consumer confidence gains in November as kiwis more upbeat on future

Nov. 15 (BusinessDesk) - New Zealand consumer confidence rose in November, with kiwis feeling more upbeat about the future and more people seeing better times financially over the next 12 months.

The ANZ-Roy Morgan Consumer Confidence rose to 114.1 in November from 110.5 in October. A reading above 100 indicates there are more optimists than pessimists. The Current Conditions index edged up to 110.2 from 109.6 and has held around these levels since the start of the year, while the Future Conditions index climbed to 116.7 from 111.

"Households have become more circumspect over the future and have pared back lofty expectations on the general economic outlook as the reality of a moderate medium-term growth environment sinks in,"

The survey has displayed “a zigzag pattern over the past year,” ANZ senior economist Mark Smith said in a statement. A little changed current conditions index this year suggests “no push on the part of consumers to significantly increase household spending.”

The November survey follows economic figures on retail sales and unemployment, which both highlighted the weakness of the economy in the third quarter. Today’s confidence survey showed people think house prices will rise 3.5 percent over the next two years, down from a 3.7 percent expected in last month’s survey.

Those deeming now a good time to buy major household items held unchanged at a net 26 percent while the balance of those feeling better off financially now than a year ago improved to -6 from -7.

Expectations of inflation two years ahead slipped to 3.4 percent from 3.6 percent.

Males were more confident than females, rising 6 points to 121 while for females the gain was 1 point to 107.

Canterbury was the most upbeat region, with confidence rising 15 points to 123, followed by Auckland on 115. Confidence in Wellington was 110, the lowest of any region.

(BusinessDesk)

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Revenue Renewal: Tax Modernisation Programme Launched

Revenue Minister Todd McClay today released the first two in a series of public consultations designed to modernise and simplify the tax system. More>>

ALSO:

Scoop Business:
NZ Puts Seven New Oil And Gas Areas Put Up For Tender

A total of seven new areas will be opened up to oil and gas exploration under its block offer tendering system, as the New Zealand government seeks to concentrate activity in a few strategically chosen areas. More>>

ALSO:

Half Full: Dairy Payouts Steady, Cash Will Be Tight

Industry body DairyNZ is advising farmers to focus on strong cashflow management as they look ahead to the 2015-16 season following Fonterra's half-year results announcement today. More>>

ALSO:

First Union: Cotton On Plans To Use “Tea Break” Law

“The Prime Minister reassured New Zealanders that ‘post the passing of this law, will you all of a sudden find thousands of workers who are denied having a tea break? The answer is absolutely not’... Cotton On is proposing to remove tea and meal breaks for workers in its safety sensitive distribution centre. How long before other major chains try and follow suit?” More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news