NZ consumer confidence unchanged in April

Thursday 21st April 2011

Consumer confidence was unchanged in the latest ANZ-Roy Morgan survey.

The headline confidence index was unchanged at 101.4, while the current conditions index eased from 94.1 in March to 93.5 in April.

"Nervous undertones continue to percolate through consumer sentiment, which flags continued caution in regard to spending," Cameron Bagrie, chief economist at ANZ said.

The Auckland region recorded the highest level of consumer confidence, overtaking Wellington. Canterbury also recorded a rise in confidence, while the rest of the South Island reported a weakening in sentiment.

Expectations for house price growth were the highest in Canterbury, at 3.7% per annum over the next two years. Christchurch was hit by a massive earthquake on February 22, leading to a shortage of rental housing.

Wellingtonians were only expecting house prices to lift 1% over the same period.

NZPA

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