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‘Not exactly gung-ho’: Consumer confidence slumps in February
New Zealand's Consumer Confidence Index dropped to minus 19 with major-purchase intentions falling by four points, driven by weaker personal finance views and job-security concerns.
- The long-running Consumer Confidence Index fell three points to minus 19 in February despite easing inflation, indicating persistent consumer uncertainty.
- Weaker personal finances drove the decline as personal financial perceptions fell four points last year, while unemployment at its highest level in nearly five years raised job-security concerns amid weak wage growth.
- Survey gauges show the major purchase index fell four points to minus 14, and the proportion saying it's a good time to buy a major household item slid five points to minus 4.
- Retailers are being affected as customers avoid big-ticket purchases, with confidence falling sharply in Wellington and Auckland while the rest of the North Island gained.
- Views on the broader economy remain firmly negative; general-economy expectations for the next 12 months hold at minus 31, while two-year-ahead inflation expectations stay near 4.7% and house-price inflation expectations ease from 3.7% to 3.6%.
18 Articles
18 Articles
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