The Westpac-McDermott Miller consumer confidence index in New Zealand declined to 97.2 in the second quarter of 2020 from 104.2 in the previous period. It was the lowest reading since Q1 2009, amid the coronavirus crisis. Most subindices recorded declines, with the steepest decreases observed in the 1-year economic outlook (-12.9 points to -28.3), followed by the current financial situation index (-11.6 points to -13.2). In addition, present conditions declined 9.3 points to 94.1 and expected conditions fell 5.4 points to 99.3. In contrast, the 5-year economic outlook improved (+1.9 points to 11.6). “This relative resilience in consumer confidence adds to other signs that the Covid recession may not prove quite as severe as initially feared,” said Satish Ranchhod, Senior Economist at Westpac.

Consumer Confidence in New Zealand averaged 110.93 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 August of 2020. source: Westpac Banking Corporation, McDermott Miller

Consumer Confidence in New Zealand is expected to be 100.00 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 108.00 in 12 months time. In the long-term, the New Zealand Consumer Confidence is projected to trend around 110.00 points in 2021 and 112.00 points in 2022, according to our econometric models.

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New Zealand Consumer Confidence

Actual Previous Highest Lowest Dates Unit Frequency
97.20 104.20 130.90 79.10 1988 - 2020 points Quarterly


Calendar GMT Actual Previous Consensus TEForecast
2019-09-16 09:00 PM Q3 103.1 103.5 104.0 102.5
2019-12-16 09:00 PM Q4 109.9 103.1 103.5 103.6
2020-03-16 08:00 PM Q1 104.2 109.9 107
2020-06-15 09:00 PM Q2 97.2 104.2 105
2020-09-16 09:00 PM Q3 97.2 100
2020-12-14 10:00 PM Q4 105


News Stream
New Zealand Q2 Consumer Sentiment at Over 11-Year Low
The Westpac-McDermott Miller consumer confidence index in New Zealand declined to 97.2 in the second quarter of 2020 from 104.2 in the previous period. It was the lowest reading since Q1 2009, amid the coronavirus crisis. Most subindices recorded declines, with the steepest decreases observed in the 1-year economic outlook (-12.9 points to -28.3), followed by the current financial situation index (-11.6 points to -13.2). In addition, present conditions declined 9.3 points to 94.1 and expected conditions fell 5.4 points to 99.3. In contrast, the 5-year economic outlook improved (+1.9 points to 11.6). “This relative resilience in consumer confidence adds to other signs that the Covid recession may not prove quite as severe as initially feared,” said Satish Ranchhod, Senior Economist at Westpac.
2020-06-15
New Zealand Consumer Confidence Drops 5.7 Points
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.
2020-03-16
New Zealand Consumer Confidence Gains 7 Points
The Westpac-McDermott Miller consumer confidence index in New Zealand climbed 6.8 points to 109.9 in the fourth quarter of 2019, rebounding from the lowest in seven years and compared to market expectations of 103.5, as less global trade policy uncertainty and a pickup in the housing market nudged sentiment higher. All subindices improved in the fourth quarter. The 1-year outlook climbed the most, gaining 13.4 points to 4.2, while the 5-year outlook rose 10.8 points to 9.7. Meanwhile, the present conditions index gained 3.7 points to 110.1, while the expected conditions index added 8.8 points to 109.8. Ahead of the shopping season, the good time to buy component added 6 points to 21.1 points.
2019-12-16
New Zealand Consumer Confidence at 7-Year Low
The Westpac-McDermott Miller consumer confidence index in New Zealand edged down to 103.1 in the third quarter of 2019, the lowest in seven years and compared to market expectations of 104, as global trade policy and a recent 50bps rate cut from the RBNZ particularly weighed on confidence for the 5-year economic outlook (down 13 points to -1.1). In addition, the 1-year economic outlook also fell (down 4.6 points to -9.2). On the bright side, the expected financial situation sub-index soared 16.4 points to 13.2 as households reacted positively to a fall in borrowing rates. Nonetheless, the ‘good time to buy’ sub-index declined 2.8 points to 15.1, hinting that consumers remain hesitant to spend and rather took advantage of looser monetary policy to pay down debt.
2019-09-16

New Zealand Consumer Confidence
In New Zealand, the Westpac McDermott Miller Consumer Confidence Index measures the level of optimism that consumers have about the performance of the economy. The Consumer Confidence Index is calculated from percentage response to five internationally standardized questions covering consumers' personal financial circumstances, national economic expectations and attitudes to major purchases. It is 100 plus the average of the difference between positive answers and negative responses. A score above 100 shows more optimism than pessimism while a score below 100 denotes more pessimism. .