Consumer confidence has lifted to its highest level since June, with more households expecting to be better off in a year.
The ANZ Roy Morgan Consumer Confidence Index lifted six points in November to just over 98.
However, a score below 100 indicates more pessimists than optimists.
“It’s good to see a decent lift in consumer confidence this month, though it is yet to break out of recent ranges,” ANZ chief economist Sharon Zollner said.
“Although it’s early days in terms of the economic recovery, this is not the only indicator suggesting that things are looking up for consumers,” she said.
A net 21% of respondents expected to be better off this time next year, the highest level since April.
“Consumer arrears have been declining, employment has returned to modest growth, and retailers are reporting improved activity,” Zollner said.
ANZ said a net 9% thought it was a bad time to buy a major household item, suggesting ongoing caution.
Zollner said the “good time to buy” indicator has not been positive in more than four years.
“Consumers’ reluctance to spend in recent years has certainly been felt by the retail sector.”
Zollner noted falling consumer arrears, employment returning to modest growth and retailers reporting improved activity.
“Our card spending data shows a return to growth across a broad range of discretionary categories, though overall spending levels are still very subdued compared to the Covid-era boom.”
Zollner said aside from lower inflation, the slowdown also led to household debt relative to incomes back to where it was before the housing bubble.
“Now we’ve taken our medicine, the stars are aligning for better times ahead.”
=======================================================
BLOCKHOUSE BAY COMMUNITY MARKET THIS SATURDAY MORNING!
COME AND JOIN US FOR THE SECOND TO LAST MARKET FOR 2025! ORIGINAL LOCALLY MADE & HANDCRAFTED GOODS ! GREAT FOR PRESENTS! SECOND HAND AND NEW TREASURES, REGULAR STALL HOLDERS AND POP UPS! SUPPORT LOCAL PEOPLE, FREE PARKING OPPOSITE AT MEDICAL CENTRE OR BEHIND COMMUNITY CENTRE ITSELF!
Poll: Should we be giving the green light to new mining projects? 💰🌲
The Environmental Protection Authority announced this week that a proposed mine in Central Otago (near Cromwell) is about to enter its fast-track assessment process. A final decision could come within six months, and if it’s approved, construction might start as early as mid-2026.
We want to know: Should mining projects like this move ahead?
Keen to dig deeper? Mike White has the scoop.
-
53% Yes
-
47% No
Aucklanders, we want to know: How are you feeling about the current property market?
New Zealand homeowners are now more likely to sell at a loss than at any time since 2013, and if you’re in Auckland or Wellington, the odds are even higher.
But there is a silver lining: buyers are still in a strong position when it comes to negotiating prices.
So we’re curious…
How are you feeling about the current property market?
If you’re keen to dive into the details, Deborah Morris breaks down all the latest insights.
Loading…
