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

 


Nielsen: NZ Consumer Confidence Buoyant to Open 2014

Nielsen: NZ Consumer Confidence Buoyant to Open 2014

Auckland, 5 May 2014 – New Zealand consumer confidence remained at 100 in Q1 2014, beginning the year ten points higher than the same time period a year ago (Q1 2013) according to consumer confidence findings from Nielsen, a leading global provider of information and insights into what consumers watch and buy. (see chart 1)

New Zealand was ahead of Australia, where consumer confidence decreased four points from a year ago to 89, and above the global average (96). Consumer confidence in New Zealand had reached 100 in the previous quarter (Q4 2013), the first time since Q3 2009. Confidence levels above and below a baseline of 100 indicate degrees of optimism and pessimism.

The three main drivers for confidence in New Zealand all increased compared to a year ago (Q1 2013). Those whose perceptions of local job prospects being good or excellent increased by twenty-one percentage points (55%), a positive view on their personal finances increased by five percentage points (58%) and those who felt it was a good time to buy things they want and need by eleven percentage points (43%).

Recessionary sentiment improved in New Zealand for the seventh consecutive quarter with nearly two-thirds (63%) of consumers believing the country is now out of an economic recession. An improvement of twenty-six percentage points from the same time a year ago (Q1 2013), the most positive since the question was first asked in the survey in 2008. (see chart 2)

Rob Clark, managing director, Nielsen New Zealand, said: “Confidence is being driven by over half ofconsumers saying the job market would be good or excellent in the upcoming year. This contrasts with Australia where consumers are less positive about local job prospects.”

Nick Tuffley, chief economist, ASB Bank, adds further comment, “The economy has been gradually strengthening over the past year, and for calendar 2014 is likely to register solid growth of around 3.5%. As the recovery has steadily progressed it is no surprise that increasingly fewer people believe the country is in recession. Consumer confidence levelled out in Q1 compared to Q4 2013, possibly influenced by higher interest rates coming back on the radar. But the level of confidence is solid and bodes well for consumer spending over the near term.”

The Nielsen Global Survey of Consumer Confidence and Spending Intentions, established in 2005, measures consumer confidence, major concerns, and spending intentions among more than 30,000 respondents with Internet access in 60 countries. In the latest round of the survey, conducted February 17 – March 7, 2014, consumer confidence increased in 60 percent of markets measured by Nielsen—up from 43 percent the previous quarter (Q4 2013).

About the Nielsen Global Survey
The Nielsen Global Survey of Consumer Confidence and Spending Intentions was conducted Feb. 17 – March 7, 2014, and polled more than 30,000 online consumers in 60 countries throughout Asia-Pacific, Europe, Latin America, the Middle East, Africa and North America. The sample has quotas based on age and sex for each country based on its Internet users, is weighted to be representative of Internet consumers and has a maximum margin of error of ±0.6%. This Nielsen survey is based on the behaviour of respondents with online access only. Internet penetration rates vary by country. Nielsen uses a minimum reporting standard of 60-percent Internet penetration or 10M online population for survey inclusion. The China Consumer Confidence Index is compiled from a separate mixed methodology survey among 3,500 respondents in China. The Nielsen Global Survey, which includes the Global Consumer Confidence Index, was established in 2005.

About Nielsen
Nielsen Holdings N.V. (NYSE: NLSN) is a global information and measurement company with leading market positions in marketing and consumer information, television and other media measurement, online intelligence and mobile measurement. Nielsen has a presence in approximately 100 countries, with headquarters in New York, USA, and Diemen, the Netherlands. For more information, visit www.nielsen.com.

ENDS

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Gareth Morgan: The Government’s Fresh Water Policy – Revisited

Fresh water quality is the latest area to be in the sights of Gareth Morgan and his research organisation The Morgan Foundation... They found that the fresh water policy was a bit murkier than the Environment Minister let on. More>>

ALSO:

Interest Rates: RBNZ Hikes OCR To 3.5%, ‘Period Of Assessment’ Now Needed

Reserve Bank governor Graeme Wheeler raised the official cash rate as expected, while signalling a pause in rate hikes to assess the impact of moves so far this year. The kiwi dollar sank after Wheeler said its strength was “unjustified” and that the currency could have “a significant fall.” More>>

ALSO:

Fonterra: Canpac Site 'Resize' To Focus More On Paediatrics

Fonterra is looking at realigning its packing operations at Canpac, in the Waikato, to focus more on paediatric nutritionals... The proposed changes could mean around 110 roles may not be required at the site which currently employs 330. More>>

ALSO:

Scoop Business: Postie Plus Brand Gets 2nd Chance With Well-Funded Pepkor

The Postie Plus brand is getting a new lease of life after South Africa’s Pepkor bought the failed retailer’s assets out of administration and said it will use its purchasing power to reduce costs of stock and fatten margins. More>>

ALSO:

Warming: Warming Signs From State Of Climate Report

Climate data from air, land, sea and ice in 2013 'reflect trends of a warming planet' -- says the latest State of the Climate report, launched by U.S. and New Zealand scientists. More>>

ALSO:

Scoop Business: Embrace Falling Home Affordability, Says NZIER

Despair over the inability to afford a house is misplaced and should be embraced as an opportunity to invest in more wealth-creating activity, says the principal economist at the New Zealand Institute of Economic Research, Shamubeel Eaqub. More>>

Productivity Commission: NZ Regulation Not Keeping Pace

New Zealand regulators often have to work with out-of-date legislation, quality checks are under strain, and regulatory workers need better training and development. More>>

ALSO:

Get More From Scoop

 
 
Computer Power Plus

Standards New Zealand

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