NZ consumer confidence eases in June as caution prevails 15 Jun 2012
- Dairy prices way below 'fair' value, must rebound: Spierings Business
- NZ dollar heads for 0.9% weekly drop Business
- Dorchester closes oversubscribed $30M capital raise Business
- NZX says it doesn't know why shares have declined Business
- Sky TV to launch $20/month subscription ondemand service Business
- Cavalier shares drop 10% after profit warning Business
- MARKET CLOSE: NZX 50 rises to record, led by Sky TV on rugby Business
- Sky TV sees annual profit gain of up to 8.6% in 2015 Business
- Heartland NZ chief risk officer resigns Business
- DNZ revalues portfolio by $10.7 million Business
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.
24 Oct 2014 News
Ottawa resident says shock turning to anger and hard questions being asked about how gunman got so far. A New Zealander in Ottawa was... more
24 Oct 2014 Business News
By Fiona Rotherham Oct. 24 (BusinessDesk) - Sky Network Television, the country's dominant pay-TV operator, will launch a new $20 a... more
24 Oct 2014 Food & Wine
Fresh from two consecutive MKR People's Choice Challenge wins, Neena and Belinda favour wholesome and earthy flavours and aim to... more
24 Oct 2014 Lifestyle
New Zealand comedians Guy Montgomery (Billy T winner, 7 Days) and Tim Batt (Radio Hauraki, 7 Days) have broken the world record... more
24 Oct 2014 Property
Aucklanders living in the ‘hottest suburbs’ could be the big losers, while businesses will come out winners Rate rises... more
15 Oct 2014 Property
The Resource Management Act needs to explicitly recognise the importance of New Zealanders’ access to more affordable housing... more
24 Oct 2014 Migration
New Zealand has been named the best place to raise a child in the Raising Children Abroad annual league table. According to the HSBC... more
24 Oct 2014 Travel & Tourism
Giving flyers an Unexpected Journey! Elijah Wood and Sir Peter Jackson star in 'epic' Hobbit themed Air New Zealand safety video Air... more
25 Oct 2014 Sport
The Black Sticks Women have won 1-0 against the USA, setting up a series decider in the final test tomorrow at the Trust House... more
24 Oct 2014 Rugby
Scotland coach Vern Cotter clears out old guard and makes Grant Gilchrist captain for November Test series No place for Barclay,... more
24 Oct 2014 Opinion
After all the delays and stonewalling, the St James finally looks to have a future, even if it’s not clear what it will be Let's... more
23 Oct 2014 Opinion
Gordon Campbell on the tokenism of New Zealand‘s role against Islamic State Was John Key born lucky or what? Political... more
24 Oct 2014 People
Veteran weathercaster Jim Hickey has announced his retirement today, saying is was a tough decision. "I feel like I'm subbing off at... more
24 Oct 2014 Recruitment
New Zealand paramedics are being poached by Britain's busiest ambulance service. Interviews were held in Auckland on Friday and... more