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

 

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:

Scoop Business: NZ-Korea FTA Signed Amid Spying, Lost Sovereignty Claims

A long-awaited free trade agreement between New Zealand and South Korea has been signed in Seoul by Prime Minister John Key and the Korean president, Park Geun-hye. More>>

ALSO:

PM Visit: NZ And Viet Nam Agree Ambitious Trade Target

New Zealand and Viet Nam have agreed an ambitious target of doubling two-way goods and service trade to around $2.2 billion by 2020, Prime Minister John Key has announced. More>>

ALSO:

Scoop Business: NZ Economy Grows 0.8% In Fourth Quarter

The New Zealand economy expanded in the fourth quarter as tourists drove growth in retailing and accommodation, and property sales increased demand for real estate services. More>>

ALSO:

Scoop Business: RBNZ’s Wheeler Keeps OCR On Hold, No Rate Hikes Ahead

The Reserve Bank has removed the prospect of future interest rate hikes from its forecast horizon as a strong kiwi dollar and cheap oil hold down inflation, and the central bank ponders whether to lower its assessment of where “neutral” interest rates should be. The kiwi dollar gained. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news