New Zealand Consumer Confidence at 5-Month High

The ANZ-Roy Morgan Consumer Confidence increased to 107.2 in January 2026 from 101.5 in December, marking its highest level since August 2021. The share of households seeing it as a good time to purchase a major household item, a key retail indicator, rose 2 points to +1, the first positive reading in nearly four years. The future conditions index rose to its strongest level since May 2021 (113.5 vs 108.9) and the current conditions index climbed to its highest since December 2021 (97.7 vs 90.4). Assessments of current personal finances also improved (-6% vs -18%), indicating that the confidence boost is based on the experience rather than hopes. A net 29% of respondents see their financial situation to be better a year from now. Expectations for the economy over the next year increased 5 points to -1%, while the 5-year-ahead outlook edged up 1 point to +12%. Lastly, house price inflation expectations eased (3.7% vs 4%), while 2-year inflation expectations were steady (at 4.6%).

The ANZ-Roy Morgan Consumer Confidence rose to 101.5 in December 2025, its highest level since September 2021. The future conditions index climbed to 108.9, the strongest since July 2021, while the current conditions index increased to 90.4, a one-year high but still indicating subdued conditions. Views on personal finances remain weak, with perceptions of current finances at -18%, though expectations improved, with a net 22% expecting to be better off next year, the highest since April. Buying intentions also strengthened, with the indicator for major household items rising 8 points to -1, its best level in over four years. Inflation expectations eased, with 2-year CPI expectations falling to 4.6% from 5.2%, supporting confidence gains, while house price inflation expectations edged up to 4.0%.

The ANZ-Roy Morgan Consumer Confidence Index CCI rose to 98.4 in November 2025, up from October’s 92.4 to the highest since June. The current conditions index was little changed at 86.0, while future conditions strengthened to 106.8 from 97.0 in October. Household perceptions of personal finances slipped four points to minus 19 percent, while a net 21 percent of respondents expect to be better off this time next year, up 12 points from the prior month. Views on the broader economy were mixed with the five year outlook rising five points to plus nine percent and the 12 month outlook improving 13 points to minus nine percent. House price expectations rose from 3.1 percent to 3.8 percent. Two year ahead CPI inflation expectations lifted from 5.1 percent to 5.2 percent. The latest CCI also showed a small decline in the share, reporting they feel worse off than a year ago while lower interest rates are beginning to support the growth outlook.