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

Presbyterian Church to lead Waitangi Day dawn ceremony

29 Jan 2015 News
  Presbyterian Church to lead Waitangi Day dawn ceremony for first time For the first time in the history of the Presbyterian... more

Upwards NCEA trend continues

29 Jan 2015 News
New Zealand Government Upwards NCEA trend continues Education Minister Hekia Parata has welcomed the release of provisional results ... more

Business

NZ dollar drops after RBNZ abandons bias to raise rates

29 Jan 2015 Business News By Jonathan Underhill
Jan. 29 (BusinessDesk) - The New Zealand dollar dropped, touching a four-year low, after the Reserve Bank abandoned its bias for ... more

NZ venison, lamb ventures win $41 mln of funding under PGP

29 Jan 2015 Business News
Article - BusinessDesk   NZ venison, lamb ventures targeting wealthy consumers win $41 mln of funding By Fiona Rotherham Jan. 29... more

Living

Signing - Next amazing Exhibition at Academy Galleries

28 Jan 2015 Lifestyle
Academy Galleries Signing The New Zealand Academy of Fine Art’ latest exhibition is commemorating 175 years since the signing... more

‘Sunday’ Selected for Byron Bay International Film Festival

28 Jan 2015 Lifestyle
Sunday The Film Kiwi Romance ‘Sunday’ Selected for Byron Bay International Film Festival 2015 New Zealand film... more

Property

Americans the biggest buyers of NZ land since 2010: Linz

29 Jan 2015 Property
Article - BusinessDesk   Americans the biggest buyers of New Zealand land since 2010, Linz data shows By Fiona Rotherham Jan. 29... more

Housing affordability drops 14%, driven by Auckland prices

29 Jan 2015 Property
Article - BusinessDesk   Housing affordability drops 14%, driven by Auckland house price rises By Fiona Rotherham Jan. 29 ... more

Migration

Free new Kiwi workshops return for fresh season

23 Jan 2015 Migration
Newcomer settlement support agency Auckland Regional Migrant Services (ARMS) is kick-starting the New Year with the return of its ... more

Overstayer numbers at record low

22 Dec 2014 Migration
Immigration Minister Michael Woodhouse welcomes new figures showing New Zealand overstayer numbers are at the lowest since 2000. A... more

Travel

Fifteen New Zealand spots to visit in 2015

23 Jan 2015 NZ Tourism
Need some inspiration for the year ahead? Here are some brilliant things to do around the country. 1. Crankworx The world's... more

Holiday parks making most of sunshine

22 Jan 2015 NZ Tourism
Holiday parks are reaping the benefits of the great holiday weather, starting the new year with record-equalling confidence... more

Sport

Mannering caps landmark year at NZRL Awards

29 Jan 2015 Rugby League
NZRL Mannering caps landmark year at NZRL Awards NZ skipper Simon Mannering has captured NZ rugby league’s top honour for... more

Mojo Pulse 2015 Pre-season Games Announced

29 Jan 2015 Netball
Netball Central Zone Mojo Pulse 2015 Pre-season Games Announced 29 January 2015 With only 30 days till the start of the 2015 ANZ... more

Columns

Gordon Campbell on the Eleanor Catton rumpus

29 Jan 2015 Column
Column - Gordon Campbell   Gordon Campbell on the Eleanor Catton rumpus by Gordon Campbell If anyone was in doubt about the... more

Gordon Campbell on the Sabin case, and pressures on Greece and coyotes

28 Jan 2015 Opinion By Gordon Campbell
  Brain fades are one thing, but the brain freeze that seems to have beset the Prime Minister over the Mike Sabin affair is... more

Kiwi Success

Xero names US-based Douglas Jeffries as CFO

29 Jan 2015 Appointments By Tina Morrison
Xero names US-based Douglas Jeffries as CFO as it targets North American market By Tina Morrison Jan. 29 (BusinessDesk) - Xero, the... more

New Zealand scientist receives top award in China

16 Jan 2015 People
Science and Innovation Minister Steven Joyce has welcomed the news that Kiwi scientist Dr Phil Rolston has been awarded the Chinese ... more

Recruitment

Tainui's Mike Pohio resigns

23 Jan 2015 Recruitment
By Fiona Rotherham Jan. 23 (BusinessDesk) - Mike Pohio, chief executive of Tainui Group Holdings, has resigned after eight years at... more

Manufacturing activity rises to decade high in December

22 Jan 2015 Recruitment
By Suze Metherell Jan. 22 (BusinessDesk) - Activity in New Zealand's manufacturing sector rose last month to its highest level in a... more