The Westpac-McDermott Miller consumer confidence index in New Zealand fell to 103.5 in the second quarter of 2019 from 103.5 in the previous period. Households became increasingly worried about conditions in the global economy over the next five years (-3.5 points to 11.9); and the number of households who think now is a good time to purchase a major item has fallen to a two-year low (-5.5 points to 17.9). Meanwhile, households’ expectations regarding their financial situation improved slightly (+0.5 points to -4.6). Consumer Confidence in New Zealand averaged 111.16 Index Points from 1988 until 2019, 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 101.00 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 105.00 in 12 months time. In the long-term, the New Zealand Consumer Confidence is projected to trend around 106.00 Index Points in 2020, according to our econometric models.