The Westpac-McDermott Miller consumer confidence index in New Zealand jumped to to 109.1 in the fourth quarter of 2018 from 103.5 in the previous period, hitting a three-quarter high. The main reasons pointed for the climb in confidence were "lower petrol prices, mortgage rates falling to low levels, along with a related firming in housing markets in some regions." The Expected Conditions Index (+6.7 to 107.5 and the Present Conditions Index (+4.0 to 111.5) both jumped. Meantime, 1-year economic outlook subindex jumped 11.9 points to 4.0, whereas the 5-year economic outlook rose a modest 3.2 points to 18.1. Also, the expected financial situation jumped 5.1 points to 0.5, contrasting with a shy 1.1 point gain to -4.2 in the current financial situation subindex. Consumer Confidence in New Zealand averaged 111.39 Index Points from 1988 until 2018, reaching an all time high of 130.90 Index Points in the second quarter of 1994 and a record low of 79.10 Index Points in the first quarter of 1991.
Consumer Confidence in New Zealand is expected to be 104.00 Index 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 108.00 in 12 months time. In the long-term, the New Zealand Consumer Confidence is projected to trend around 107.00 Index Points in 2020, according to our econometric models.