New Zealand Consumer Mood Weakens Slightly

The ANZ-Roy Morgan Consumer Confidence Index edged down to 97.6 in September 2026, remaining below the neutral 100 mark but 17 points above its April low. The share of households seeing it as a good time to buy a major household item, a key retail indicator, rose 5 points to -7, suggesting that retail remains challenging. Two-year inflation expectations inched down 0.2 percentage points to 4.5%, while house price expectations eased slightly to 2.4% from 2.5%. The future conditions index dropped to 104.5 from 107.7, remaining above the neutral 100 mark for the third straight month, while the current conditions index increased to 87.3 from 83.4. Assessments of current personal finances also improved (-19% vs -21%). Economic expectations for the year ahead weakened from -12% to -16%, while the five-year outlook declined 3 points to +10%. Meanwhile, a net 7% of respondents expected to be better off this time next year, a 5-percentage-point improvement.

The ANZ-Roy Morgan Consumer Confidence Index eased to 98.0 in August 2026, remaining below the neutral 100 mark but 18 points higher than its April low. The share of households seeing it as a good time to buy a major household item, a key retail indicator, fell 5 points to -12, suggesting that retail remains a tough gig. Two-year inflation expectations were little changed at 4.7%, while house price expectations edged down to 2.5% from 2.6%. The future conditions index rose marginally to 107.7 from 106.5, moving above the neutral 100 mark for the second straight month, while the current conditions index declined to 83.4 from 88.5. Assessments of current personal finances also dropped (-21% vs -16%). Economic expectations for the year ahead improved slightly, from -13% to -12%, while the five-year outlook rose 1 point to +13%. However, a net 22% of respondents expected to be better off this time next year, the strongest figure since January.

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.