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.