New Zealand: Consumer confidence improves in June
The ANZ-Roy Morgan consumer confidence indicator rose to 85.5 in June from 79.2 in May. Therefore, the index remained entrenched below the 100-threshold that separates optimism from pessimism among consumers.
In June, households’ expectation over their financial situation in 12 months view improved, as did their expectations over the general economic situations in one year and five years view.
Commenting on the release, Sharon Zollner, chief economist at ANZ, stated:
“It’s not all rosy in consumer land. The overall level of confidence remains very subdued. While job security is still excellent on the whole and wage growth historically strong, ongoing cost of living increases continue to bite.”