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New Zealand consumer confidence improved in June as inflation expectations declined, signaling a gradual recovery in household sentiment despite overall optimism remaining below pre-oil price spike levels, according to the latest ANZ-Roy Morgan survey released on Friday.
The ANZ-Roy Morgan Consumer Confidence Index climbed to 91.3 in June, up from 86.5 in May. While the increase reflects growing confidence among consumers, the index remains 16 points below the peak recorded in January. A reading above 100 indicates that optimists outnumber pessimists, while a score below 100 suggests consumers remain generally cautious about the economic outlook.
The survey showed that easing two-year inflation expectations played a key role in boosting sentiment. Inflation expectations have now moved closer to the levels seen in January before rising oil prices pushed inflation concerns higher. Lower inflation expectations often improve consumer outlook by reducing concerns about future living costs and supporting household spending confidence.
ANZ-Roy Morgan noted that consumer sentiment has recovered nearly half of the decline experienced earlier this year. Both the index measuring current economic conditions and the forward-looking expectations index have improved significantly and now sit 11 points above their recent lows, indicating that households are becoming less pessimistic about New Zealand’s economic prospects.
Although confidence remains below the neutral 100 mark, the latest data suggest that New Zealand consumers are gradually regaining confidence as inflation pressures ease and economic uncertainty moderates. The rebound could provide support for consumer spending if the positive trend continues in the coming months.
Economists and policymakers will continue monitoring consumer confidence closely, as stronger household sentiment can influence retail spending, business activity, and the broader New Zealand economy. Future movements in inflation, interest rates, and global energy prices are expected to remain key factors shaping consumer confidence throughout the rest of the year.
