NZ consumer confidence eases in June as caution prevails   15 Jun 2012

Article - BusinessDesk

NZ consumer confidence eases in June as caution prevails

By Hannah Lynch

June 15 (BusinessDesk) - New Zealand consumer confidence eased in June as consumers remained cautious about spending money.

The ANZ-Roy Morgan Consumer Confidence measure eased to 105.8 points in June from 113.9 points in May. The Current Conditions index fell 3.1 points to 105, while the Future Conditions index eased by 11.4 points to 106.3.

"Right here and now consumers still feel worse off, and more so," said Cameron Bagrie, chief economist at ANZ New Zealand. "The consumer is not the flag bearer of growth."

Consumer perceptions towards the general economy a year out fell to -19 points from 2 points in May, while sentiment towards the economy five years from now eased to 18 points from 23.

Inflation expectations lifted marginally to 3.7 percent from 3.6 percent. That comes as Reserve Bank Governor Alan Bollard yesterday left the official cash rate unchanged at the record-low 2.5 percent and flagged a slower track for interest rate increases.

House price expectations remained unchanged on 3.5 percent, with consumers still perceiving it to be a good time to buy a big ticket item, even as sentiment slipped 5 points to 20.

On a regional basis, Canterbury recorded the largest fall down 14 points to 106.1 points, followed by Wellington down 13 points to a 13-month low of 105.7. Auckland recorded the smallest decline on 109.8 points from 111.8 points a month earlier.

Female consumers were more pessimistic than males, with confidence dropping 4 points to 6 points. That's the lowest level since April 2011.

Consumers aged 25 plus experienced a marked deterioration in confidence. Those in the 25 to 34 years dropping 10 points to 113.1 points, while consumers aged 35 to 49 fell 13 points to a 14-month low of 100.1. Consumers aged 50 plus recorded the lowest level of confidence down 9 points to 94.8.

(BusinessDesk)

Add a comment

Bookmark and Share

News

Pharmac increases access to new treatments

5 Dec 2016 Health
Jonathan Coleman 5 December, 2016 Pharmac increases access to new treatments Health Minister Jonathan Coleman we... more

Prime Minister John Key announces resignation

5 Dec 2016 Ministerial Speeches
Rt Hon. John Key 5 December, 2016 Just a few days ago I marked the anniversary of my eighth year as Prime Minister and my... more

Business

Treasury forecasts solid growth, stable finances

8 Dec 2016 Business News
8 December, 2016 Treasury forecasts solid growth, stable finances Treasury’s latest forecasts show the Government... more

Key crowns APEC summit with China free-trade upgrade

21 Nov 2016 Business News By Pattrick Smellie
Article - BusinessDesk Monday 21 November 2016 08:50 AM Key crowns APEC summit with China free-trade upgrade By Pattrick Smellie in ... more

Living

3rd Position, Louis Vuitton America’s Cup World Series

21 Nov 2016 Lifestyle
Emirates Team New Zealand EMIRATES TEAM NEW ZEALAND CLOSES IN 3rd POSITION THE LOUIS VUITTON AMERICA’S CUP WORLD SERIES more

Arts Foundation Award recipients for 2016

14 Nov 2016 Lifestyle
The Arts Foundation Next generation of internationally acclaimed talent among the Arts Foundation Award recipients for 2016Under ... more

Property

NZ house prices gain 11% in October

14 Nov 2016 Property
Article - BusinessDesk Monday 14 November 2016 10:28 AM NZ house prices gain 11% in October, driven by sales of higher value homes By... more

RBNZ sees pressures building in Auckland construction sector

11 Nov 2016 Property By Paul McBeth
Article - BusinessDesk Thursday 10 November 2016 04:04 PM RBNZ sees pressures building in Auckland construction sector By Paul ... more

Migration

Good progress on investment attraction strategy

8 Dec 2016 Migration
Economic Development Minister Steven Joyce has welcomed news that New Zealand is attracting a higher level of quality international... more

Changes to Financial Markets Conduct Act impact UK pension transfers

1 Nov 2016 Migration
New Zealand Government Hon Paul GoldsmithMinister of Commerce and Consumer Affairs 1 November 2016 Changes to Financial Markets... more

Travel

Work on $700m Puhoi road underway

8 Dec 2016 Travel & Tourism
Hon. Simon Bridges 8 December, 2016 Prime Minister John Key and Transport Minister Simon Bridges have turned the sod on th... more

Air NZ teams up Ronan Keating, Julian Dennison for Christmas song

2 Dec 2016 Travel & Tourism
Air New Zealand has paired up with singer Ronan Keating and rising Kiwi actor Julian Dennison to rejig a Christmas classic. 'Summer... more

Sport

BLACKCAPS lose Chappell-Hadlee trophy

8 Dec 2016 Cricket
BLACKCAPS lose Chappell-Hadlee trophy Posted Tuesday, 6 December, 2016 

more

Columns

Gordon Campbell on the Gareth Morgan crusade

11 Nov 2016 Opinion
Column - Gordon Campbell   Gordon Campbell on the Gareth Morgan crusade First published on Werewolf more

Gordon Campbell on the US election outcome

10 Nov 2016 Opinion
Column - Gordon Campbell   Gordon Campbell on the US election outcome more

Kiwi Success

High Commissioner to India announced

8 Dec 2016 Appointments
Hon. Murray McCully 7 December, 2016 High Commissioner to India announced Foreign Minister Murray McCully today... more

Acting District Court Judge appointed

11 Nov 2016 Appointments
New Zealand Government Hon Christopher FinlaysonAttorney-General 11 November 2016 Acting District Court Judge appointed Wellington... more

Recruitment

NZ Government accepts recommendations on pay equity

8 Dec 2016 Recruitment
Hon. Paula Bennett,  Hon. Michael Woodhouse, Hon. Louise Upston 24 November, 2016 The Government will update the Equa... more

Fisher Funds hunts for new head to replace founder

2 Nov 2016 Recruitment
Article - BusinessDesk Tuesday 01 November 2016 04:42 PM Fisher Funds hunts for new head to replace founder Carmel Fisher By Paul ... more

s