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

 

NZ consumer confidence snaps four months of declines in Sept

NZ consumer confidence snaps four months of declines in September as outlook perks up

By Paul McBeth

Sept. 18 (BusinessDesk) - New Zealand households were a little perkier in September, ending a four-month slide, as the pessimism over the nation's economic outlook eased.

The ANZ-Roy Morgan consumer confidence index rose 1 point to 110.8 from a three-year low in August. The current conditions index fell to 114.9 from 117.2, while the future conditions component increased to 108.1 from 104.9.

"Though one can never read too much into one month of data, it is encouraging," ANZ Bank New Zealand chief economist Cameron Bagrie said. "The level of confidence is neither elevated nor poor, though certainly has a less buoyant feel relative to prior years."

Local firms have been gloomier about the economic outlook in recent months as a slump in global dairy prices threatens farm incomes, and prompted the Reserve Bank to start cutting interest rates in June. Households have been more circumspect, with government data yesterday showing private expenditure grew 0.9 percent in the June quarter, largely on a pick up in spending on services, though an expanding population and tepid inflation has kept a lid on wage growth.

Today's survey showed a net 6 percent of the 1,003 respondents felt financially better off now than they did a year earlier, largely unchanged from the 7 percent level a month earlier, and a net 26 percent expect to be better off in 12 months' time, up from 23 percent in August.

On the economy, a net 12 percent expect the economy will deteriorate over the coming 12 months, down from a net 16 percent of pessimists in August, and a net 11 percent predict better times ahead over the next five years, up from 8 percent.

A net 24 percent see it as a good time to buy major appliances, down from 27 percent in August, which Bagrie again attributed to the weaker New Zealand dollar which increases the price of imported goods.

Inflation expectations were largely unchanged, with respondents picking an annual increase in consumer prices of 3.6 percent over the next two years, while house prices are seen rising at a 5.2 percent pace.

(BusinessDesk)

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Energy Resources Aotearoa: New Law On Decommissioning Could Be Costly Overkill
A new law on decommissioning oil and gas fields passed by Parliament today has good intentions but is overkill, according to Energy Resources Aotearoa. "We strongly support operators taking responsibility and paying the costs for decommissioning, which is what all good operators do," says chief executive John Carnegie... More>>


Commerce Commission: News Publishers’ Association Seeks Authorisation To Engage In Collective Bargaining

News Publishers’ Association of New Zealand Incorporated seeks authorisation and provisional authorisation to engage in collective bargaining with Facebook and Google. The Commerce Commission has received applications from News Publishers’ Association of New Zealand Incorporated (NPA) seeking authorisation and provisional authorisation on behalf of itself... More>>


Reserve Bank: MPC Continues To Reduce Monetary Stimulus
The Monetary Policy Committee agreed to raise the Official Cash Rate (OCR) to 0.75 per cent. The Committee agreed it remains appropriate to continue reducing monetary stimulus so as to maintain price stability and support maximum sustainable employment... More>>

PriceSpy: Producer Prices Increase
New Black Friday and Covid-19 Report* released by PriceSpy says people’s fear of stepping inside physical shops during big sales events like Black Friday has risen since last year; Kiwis are still planning to shop, but more than ever will do it online this year... More>>

NZ Skeptics Society: Announce Their 2021 Awards, And Dr Simon Thornley Wins The Bent Spoon

Every year the New Zealand Skeptics presents its awards to people and organisations who have impressed us or dismayed us, and this year it’s been hard to pick our winners because there have been so many choices!.. More>>



REINZ: Sales Volumes Leveling Out

Data released today by the Real Estate Institute of New Zealand (REINZ) shows there were 44 fewer lifestyle property sales (-2.6%) for the three months ended October 2021 than for the three months ended September 2021... More>>


BNZ: Auckland Retail Card Spending Bounces Back In Step Two
Bank of New Zealand (BNZ) card spending data released today shows one week of retail therapy at Alert Level 3 Step 2 has been enough to raise card spending in Auckland to levels greater than before the Delta lockdown... More>>