The Westpac-McDermott Miller consumer confidence index in New Zealand declined 5.7 points to 104.2 in the first quarter of 2020, as the novel coronavirus outbreak and a drought took a toll on sentiment. Most subindices recorded declines, with expected financial situacion (19.9 vs 15.5 in Q4) and the 5-year economic outlook (unchanged at 9.7) eking out. Particular steep falls were observed in the subindices of 1-year economic outlook (-15.4 vs 4.2) and good time to buy (8.4 vs 21.1), the latter remaining in positive territory buoyed by the housing market. “While households are nervous about the economic outlook, at this stage they are less concerned about how they will personally be affected. However, that could change over the coming months,” said Satish Ranchhod, Senior Economist at Westpac.
Consumer Confidence in New Zealand averaged 111.03 points from 1988 until 2020, reaching an all time high of 130.90 points in the second quarter of 1994 and a record low of 79.10 points in the first quarter of 1991. This page provides the latest reported value for - New Zealand Consumer Confidence - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. New Zealand Consumer Confidence - data, historical chart, forecasts and calendar of releases - was last updated on April of 2020. source: WESTPAC
Consumer Confidence in New Zealand is expected to be 104.00 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Consumer Confidence in New Zealand to stand at 99.00 in 12 months time. In the long-term, the New Zealand Consumer Confidence is projected to trend around 106.00 points in 2021 and 108.00 points in 2022, according to our econometric models.