Sharechat Logo

NZ consumer confidence slips in February

Thursday 16th February 2012

Text too small?

New Zealand consumer confidence slipped in February, as the economic outlook dimmed, with households feeling less optimistic about their financial well-being.

The ANZ-Roy Morgan Consumer Confidence measure eased to 113.3 in February from 116.1 in January. The current conditions index posted a 4 point decline to 109.8, while the future conditions index eased 1.9 points to 115.7.

“We continue to see mixed messages across key drivers of consumer sentiment, including a weakening in the labour market, a barrage of bad news regarding the global economy and that persistent rising cost trend for some core staples but on the back drop of an improving property market,” said Cameron Bagrie, chief economist at ANZ.

Households felt less optimistic about their well being, with confidence easing to a net 24 from net 32 in January.

Many households did remain positive about big ticket purchases, with sentiment dropping just five points to 29. Expectations regarding house prices increased from 3 to 2.5 percent, with real house price growth expectations highest in Canterbury on 0.6 percent, compared with -1.5 percent in Wellington.

Confidence dropped across all ages, with those aged between 18 and 24 years leading with a 7 point decline to 121.

Males and females recorded their narrowest confidence margin since March 2008, after male confidence dropped 10 points last month, while female confidence lifted 3 points in February.

BusinessDesk.co.nz



  General Finance Advertising    

Comments from our readers

No comments yet

Add your comment:
Your name:
Your email:
Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Related News:

SML - Synlait Milk Limited - Trading Halt of Securities
AIA - Auckland Airport announces board chair changes
AIA - Auckland Airport announces board chair changes
CEN - Tauhara commissioning progress update
FPH initiates voluntary limited recall
March 28th Morning Report
KFL Celebrates 20 Years of Excellence in Investment Mgmt.
SVR - Savor FY24 Earnings Guidance & Change in Banking Partner
NZK - NZ King Salmon Investments Limited FY24 Results
March 27th Morning Report