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

Puhoi - Warkworth "holiday highway" gets the big tick

25 Jul 2014 News By Suze Metherell
July 25 (BusinessDesk) - A board of inquiry has given the go-ahead on the $760 million Puhoi-to-Warkworth highway. Dubbed the... more

Applications for Waitangi Day Fund opened

25 Jul 2014 News
New Zealand Government Applications for Waitangi Day Fund opened   Applications for the 2015 Commemorating Waitangi Day Fund are... more

Business

Auckland Airport cuts fine deal in US$250M bond issue

25 Jul 2014 Business News
Article - BusinessDesk   Auckland Airport cuts fine deal in US$250M bond issue By Paul McBeth Jul. 25 (BusinessDesk) - Auckland... more

NZ dollar slides to 6-week low on intervention talk

24 Jul 2014 Business News
Article - BusinessDesk   NZ dollar slides to 6-week low as RBNZ's Wheeler invokes intervention criteria By Paul McBeth July 24 ... more

Living

NZ Film 'The Dead Lands' to Have Toronto World Premiere

23 Jul 2014 Entertainment
New Zealand Film Commission New Zealand Film 'The Dead Lands' to Have Toronto World Premiere Maori action epic The Dead Lands will... more

Anti-mining campaign doco debuts at NZ Film Festival

22 Jul 2014 Entertainment
Playing at this year’s New Zealand International Film Festival, Cap Bocage is a close-up exploration of the forces that came... more

Property

NZ house sales fall in June, led by cheaper properties

14 Jul 2014 Property By Suze Metherell
July 14 (BusinessDesk) - New Zealand house sales fell in June from a year earlier, led by properties of $400,000 or less, indicating... more

Average Auckland house prices reach record level

10 Jul 2014 Property
The average asking price for a home in Auckland has reached the record level of 732 thousand, 240 dollars. The figure is provided by... more

Migration

UK Tier 1 visa extension deadline looming

11 Jul 2014 Migration
If you’re in the UK on a Tier 1 (General) visa, you’ll need to apply for an extension as soon as possible. The deadline... more

NZ more appealing to ex-pats - survey

10 Jul 2014 Migration
Auckland and Wellington have become more appealing to ex-pats in the past 12 months, a new survey has found. Both cities both dropped... more

Travel

Cycleways bring economic benefit to communities

24 Jul 2014 Travel & Tourism
An increasing number of cycleways are attracting tourists to regions and scenic parts of New Zealand and a special session at the... more

100% Middle-Earth campaign wins prestigious travel award

17 Jul 2014 Travel & Tourism
Associate Tourism Minister Todd McClay has congratulated Tourism New Zealand on winning the Pacific Asia Travel Association’s... more

Sport

2014 Commonwealth Games: Judo medal for Manuel

25 Jul 2014 Commonwealth Games
Darcina Manuel, formerly of Gisborne and now living in Perth, provided... more

NZ Bronze medal for team pursuiters

25 Jul 2014 Commonwealth Games
Bronze for team pursuiters Published Friday 25 July 2014

more

Columns

Gordon Campbell on Gaza and burning the Israeli flag

24 Jul 2014 Opinion By Gordon Campbell
One of the selling points in New Zealand’s campaign for a temporary seat on the Security Council is that we have a pluckily... more

7 highly effective habits to stay healthy at work

23 Jul 2014 Column By Tricia Alach
The holistic helper's guide to wellbeing and work: part eight Like all good reports, my Wellbeing and Work series comes with an... more

Kiwi Success

Hon.Judith Collins announces appointments to Public Trust Board

23 Jul 2014 Appointments
New Zealand Government Appointments to Public Trust Board   Justice Minister Judith Collins today announced the appointment of ... more

NZ Government Minister Foss announces commerce reappointments

23 Jul 2014 Appointments
Commerce Minister Craig Foss today announced four reappointments to various independent Crown entities and statutory... more

Recruitment

750 additional Trades Academy places for 2015

14 Jul 2014 Recruitment
New Zealand Government   Hon Steven Joyce Minister for Tertiary Education, Skills and Employment Hon Hekia Parata Minister of... more

Take a dip into global talent pool

9 Jul 2014 Recruitment
International candidates can bring added value, says recruitment specialist New Zealand's thriving economy has created a "unique... more