New Zealand skyline

New Zealand Consumer Confidence August 2020

New Zealand: Consumer confidence drops in August

The ANZ-Roy Morgan consumer confidence indicator dropped to 100.2 in August from July’s 104.3, suggesting increased wariness amid a resurgence of coronavirus cases. Despite the dip, it remained barely above the 100-threshold that separates optimism from pessimism among consumers.

The net proportion of households thinking it was a good time to buy major household items fell to negative terrain for the first time since May. Moreover, households’ assessments about their current financial situation and over the next 12 months deteriorated further. Similarly, consumers’ expectations on the five-year general economic outlook weakened.

Commenting on the release, Sharon Zollner, ANZ chief economist, stated:

“Reality bites. We’re battling COVID-19 once more, and the Auckland hospitality and retail sectors are the cannon fodder. Job insecurity will have increased for many as a result of the second lockdown. But even once that is dealt with, huge uncertainty about the future remains, with the income hit from the loss of international tourists still largely to come, given the seasonality of it.”

Free sample report

Access essential information in the shortest time possible. FocusEconomics provide hundreds of consensus forecast reports from the most reputable economic research authorities in the world.
Close Left Media Arrows Left Media Circles Right Media Arrows Right Media Circles Arrow Quote Wave Address Email Telephone Man in front of screen with line chart Document with bar chart and magnifying glass Application window with bar chart Target with arrow Line Chart Stopwatch Globe with arrows Document with bar chart in front of screen Bar chart with magnifying glass and dollar sign Lightbulb Document with bookmark Laptop with download icon Calendar Icon Nav Menu Arrow Arrow Right Long Icon Arrow Right Icon Chevron Right Icon Chevron Left Icon Briefcase Icon Linkedin In Icon Full Linkedin Icon Filter Facebook Linkedin Twitter Pinterest X Download Fullscreen