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New Zealand’s ANZ-Roy Morgan consumer confidence index lifted from 126.9 to 127.7 in February. This is still 2 points off the September high, but it is a solid level. On a seasonally adjusted basis, the index remains 8 points off its September high at 124.7.
After surging 8 points last month the Current Conditions Index fell 4 points in February to 127.3. The Future Conditions Index lifted another 4 points to 128.0 and has largely unwound its post-election dip.
Consumers continue to feel content about their current financial situation. A net 15 percent feel financially better off than a year ago. The proportion of those who reported being worse off was the lowest in the history of the survey.
A net 34 percent of consumers expect to be better off financially this time next year (up 5 points). A net 40 percent say it’s a good time to buy a major household item, down 7 points. This is still a strong level and should support durables spending.
Perceptions regarding the economic outlook were steady at +21 percent. The five-year outlook lifted from a net +22 percent to +29 percent.
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