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

 

Air NZ Wine Awards: Victory For Villa Maria As Pinot Noir Thrills

It was a night to remember as Villa Maria Estate picked up one of the highest accolades of the evening, the O-I New Zealand Reserve Wine of the Show Trophy, at the 28th Air New Zealand Wine Awards. The Villa Maria Single Vineyard Southern Clays Marlborough ... More>>

ALSO:

Future Brighter Money: RBNZ Releases New Bank Note Designs

New Zealand’s banknotes are getting brighter and better, with the Reserve Bank today unveiling more vibrant and secure banknote designs which will progressively enter circulation later next year. More>>

ALSO:

Commerce: Supermarket Inquiry Finds No Breaches By Countdown

The Commerce Commission inquiry into anti-competitive behaviour by Countdown supermarkets, alleged by former Labour Party MP Shane Jones, has found nothing to warrant prosecution, although it warns supermarkets to take care in the way they communicate... More>>

ALSO:

Crown Accounts: English Flags ‘Challenge’ To Budget Surplus

Finance Minister Bill English is warning next month’s half yearly fiscal and economic update from the Treasury may not forecast a budget surplus, saying that returning the government’s accounts to surplus in 2015 will be “a challenge”, given the decline in commodity prices and weak global inflation. More>>

ALSO:

March 2015: Netflix To Launch In Australia And New Zealand

World’s Leading Internet Television Network to Offer Original Series, Movies, Documentaries, Stand-Up Comedy Specials and TV Shows for Low Monthly Price More>>

ALSO:

Price Of Cheese (Is Up): Dairy Product Prices Fall To Five-Year Low

Dairy product prices fell in the latest GlobalDairyTrade auction to the lowest level in more than five years, led by declines in rennet casein and skim milk powder. More>>

ALSO:

Gordon Campbell: On The Australians Scoring Trade Points Against Us With The Chinese

It hasn’t been a great year for Trade Minister Tim Groser... To top it off, Australia has just signed a FTA with China that has far better provisions on dairy exports than what New Zealand currently enjoys in our own FTA with China. More>>

ALSO:

Iwi & Local Consultation: Oil And Gas Block Offer 2015 Begins

Energy and Resources Minister Simon Bridges today announced the start of the Block Offer 2015 process for awarding oil and gas exploration permits. More>>

Get More From Scoop

 
 
Standards New Zealand

Standards New Zealand
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news