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BNZ-Nine Rewards Consumer Trends Survey - September 2013

Tony Alexander

BNZ-Nine Rewards Consumer Trends Survey - September 2013

Consumer Sentiment Eases But Spending Intentions Rise

There has been a slight reduction this month in the net percent of people feeling confident about the economy to 21% from  29% in July and August. Nevertheless, a net 8% of our 521 respondents  (compared with 6% in August) still expect to spend more than usual in the coming month with a gross 17% thinking about buying a car. Thoughts about buying furniture and appliances are not changing with a gross 39% thinking of making such a purchase compared with 41% in August and 39% also in July.

Overall the results show no major turning of consumer spending intentions for the better or worse and in particular they show no feed-through of rising house prices into higher spending intentions. This will please the Reserve Bank – but these are early days in the economic cycle and as growth in GDP accelerates to 4% and employment lifts we should be able to get an early gauge of any major change in the conditions which retailers will face in the near future.

The survey is made possible by Nine Rewards, an online market research panel of over 60,000 people in New Zealand. www.ninerewards.co.nz
Survey results will usually be released in the first or second week of each month between the BNZ Confidence Survey and BNZ-REINZ Residential Market Survey releases.

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All the best
Tony Alexander
Chief Economist

ENDS

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