New Zealand Consumer Mood Rises from Near 3-Year Low

The ANZ-Roy Morgan Consumer Confidence Index increased by 8 points to 99.3 in July 2026, marking the highest level since February, though it remained 19 points below its January peak. The share of households seeing it as a good time to buy a major household item, a key retail indicator, climbed 4 points to -7. Two-year inflation expectations were unchanged at 4.6%, while house price expectations dropped to 2.6% from 3.0%. The future conditions index jumped to 106.5 from 96.7, rising above the neutral 100 mark for the first time since February, while the current conditions index rose 5.3 points to 88.5. Assessments of current personal finances also improved (-16% vs -23%), strongest since March. Economic expectations for the year ahead also improved, rising from -23% to -13%, their strongest reading since February, while the five-year outlook rose 5 points to +12%. However, a net 10% of respondents expected to be better off this time next year, up 11 points from the previous month.

The ANZ-Roy Morgan Consumer Confidence climbed 4 points to 91.3 in June 2026, matching the March reading and marking the highest level in three months, though it remained 16 points below its January peak. The share of households seeing it as a good time to buy a major household item, a key retail indicator, increased 9 points to -11. Two-year inflation expectations eased to 4.6% from 5.3%, while house price expectations were unchanged at 2.5%. The future conditions index rose to 96.7 from 92.7, while the current conditions index climbed 6 points to 83.2. Assessments of current personal finances also improved (-23% vs -25%) due to easing petrol prices. Economic expectations for the year ahead also improved, rising from -36% to -23%, their strongest reading since February, while the five-year outlook rose 1 point to +3%. However, a net 10% of respondents expected to be better off this time next year, down 2 points from the previous month.

The ANZ-Roy Morgan Consumer Confidence increased to 86.5 in May 2026 from 80.3 in April, which was the lowest level since May 2023. The index has risen 6 points over the previous month but is still down 21 points from its January peak. The share of households seeing it as a good time to buy a major household item, a key retail indicator, gained 5 points to -20. Two-year inflation expectations eased to 5.3% from 6.6%, while house price expectations dropped 0.7 percentage points to 2.6%. The future conditions index rose to 92.7 from 85.9, while the current conditions index climbed 5 points to 77.2. Assessments of current personal finances also improved (-25% vs -31%), due to easing petrol prices. Looking ahead, a net 12% of respondents expected to be better off this time next year, up 9 points from the previous month. Economic expectations for the year ahead also improved, rising 12 points to -36%, while the five-year outlook fell 1 point to +2%.