The Westpac-McDermott Miller consumer confidence index in New Zealand declined to 103.5 in the third quarter of 2018 from 108.6 in the previous period, hitting its lowest level since the second quarter 2012. The downturn was explained by a 5.8-point decrease to 100.8 in the Expected Conditions Index, while the Present Conditions Index fell 4.2 points to 107.5. Meantime, the Current Financial Situation (-2.5 points to -5.3) dropped further and the Expected Financial Situation (-6.3 points to -4.6) fell into contraction. Meantime, the 1-year economic outlook plunged 9.1 points to -7.9 and the 5-year economic dipped 2 points to 14.9. Consumer Confidence in New Zealand averaged 111.39 Index Points from 1988 until 2018, 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 107.00 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 104.40 in 12 months time. In the long-term, the New Zealand Consumer Confidence is projected to trend around 105.50 Index Points in 2020, according to our econometric models.