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

Body found in London park believed to be missing Kiwi

30 Sep 2014 News
London police believe a body found in a southwest London park is that of missing New Zealand man Malcolm McKinlay. Mr McKinlay, who... more

Uncovering the secrets of NZ's discovery

30 Sep 2014 News
Two scientific papers have shed new light on how Polynesian explorers may have arrived in New Zealand, but the authors have... more

Business

NZ dollar heads for 11% slump in Sept quarter

30 Sep 2014 Business News
By Paul McBeth Sept. 30 (BusinessDesk) - The New Zealand dollar is heading for an 11 percent slump in the September quarter as... more

Derceto purchased by French company

30 Sep 2014 Business News
A technology startup born out of professional services consultancy Beca has taken the next step in its growth. Beca has concluded an... more

Living

Louis Baker covers Prince's 'Purple Rain'

30 Sep 2014 Entertainment
  The intensity of this up close and mesmerizing intimate performance shows why Baker has become renowned for both tear... more

Hang Out With the Julie Lamb Band

30 Sep 2014 Lifestyle
Julie Lamb Celebrate the launch of Julie Lamb’s much anticipated third album, When We Hang Out, with a free live performance... more

Property

NZ building consents flatline in August

30 Sep 2014 Property
By Suze Metherell Sept. 30 (BusinessDesk) - New Zealand building consents held steady in August from a month earlier, underpinned... more

Australia's Quattro in talks to buy NZ properties

30 Sep 2014 Property
By Suze Metherell Sept. 30 (BusinessDesk) - Quattro Asset Management, an Australian fund manager, is in negotiations to buy two... more

Migration

Indefinite Leave to Remain made simple

30 Sep 2014 Migration
There are thousands of expats living in the UK who are aiming for permanent residency status and, eventually, a British passport. But... more

Migration boom rolls on as fewer kiwis depart

30 Sep 2014 Migration
New Zealand's annual net migration rose to a record in August, exceeding Treasury's forecasts, and spurred by more migrant arrivals... more

Travel

Travel tidbits and deals of the week

30 Sep 2014 Travel & Tourism
Some of the best travel deals going - both in New Zealand and abroad. Bookmark this page and check back each week for all the latest ... more

Air NZ's Luxon defends domestic regional air fares

30 Sep 2014 Travel & Tourism
By Paul McBeth Sept. 30 (BusinessDesk) - Air New Zealand chief executive Christopher Luxon has defended its pricing on domestic... more

Sport

New Zealand's Top sporting rich list

30 Sep 2014 Sport
The Herald reveals who they believe are the highest-paid New Zealand sports people and look at how they make a living on and off the ... more

Footballing Giants Real Madrid and AC Milan Kick Off in Dec

30 Sep 2014 Football
Dubai’s Department of Tourism and Commerce Marketing (DTCM) and Emirates Airline have announced that the 2014 UEFA Champions... more

Columns

Time to debate proportional representation

30 Sep 2014 Opinion
Article - Sridhar Ekambaram   Time to debate proportional representation By Sridhar Ekambaram30 September 2014 With the... more

Gordon Campbell on the farcical elevation of David Seymour

30 Sep 2014 Column
Column - Gordon Campbell   Gordon Campbell on the farcical elevation of David Seymour With the election won, it's time to find... more

Kiwi Success

Villa Maria medal haul

30 Sep 2014 People
Out of a particularly difficult vintage, Villa Maria's 2012 Hawke's Bay Reserve Syrah, is a shining star. The winery collected nine... more

Open Arms second at Pacifica Beats

30 Sep 2014 People
Months of practice was all over in just nine minutes but Rotorua Boys' High School's nine piece reggae band Open Arms have had the... more

Recruitment

NZ's top pay packet revealed: $4.1m

30 Sep 2014 Recruitment
With a total pay package worth $4.1 million, ANZ New Zealand's David Hisco is the top-paid boss in the Business Herald's executive pay... more

NZ job market expected to strengthen - survey

30 Sep 2014 Recruitment
The job market is expected to strengthen and potential employees are increasingly looking at staying in New Zealand for work instead... more