The Westpac-McDermott Miller consumer confidence index for New Zealand tumbled to a record low of 75.6 in the last quarter of 2022 from 87.6 in the previous period, in a sign more New Zealanders are pessimistic about the economic environment than those who are optimistic. Confidence has only come close to these sorts of lows twice before: first during the recession in the early 1990s, and during the Global Financial Crisis in 2008/09. Mounting financial pressures are the major concern that is worrying households, as living costs have been skyrocketing and borrowing costs increase sharply. The drop in confidence has been widespread across all age groups, income brackets and regions. source: Westpac Banking Corporation, McDermott Miller

Consumer Confidence in New Zealand averaged 109.78 points from 1988 until 2022, reaching an all time high of 130.90 points in the second quarter of 1994 and a record low of 75.60 points in the fourth quarter of 2022. This page provides the latest reported value for - New Zealand Consumer Confidence - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. New Zealand Consumer Confidence - data, historical chart, forecasts and calendar of releases - was last updated on March of 2023.

Consumer Confidence in New Zealand is expected to be 81.90 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations.

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New Zealand Consumer Confidence



Calendar GMT Actual Previous Consensus TEForecast
2022-09-21 09:00 PM Q3 87.6 78.7 91
2022-12-18 08:00 PM Q4 75.6 87.6 88.5
2023-03-21 09:00 PM Q1 75.6 81.9


Related Last Previous Unit Reference
Consumer Confidence 75.60 87.60 points Dec 2022

New Zealand Consumer Confidence
In New Zealand, the Westpac McDermott Miller Consumer Confidence Index measures the level of optimism that consumers have about the performance of the economy. The Consumer Confidence Index is calculated from percentage response to five internationally standardized questions covering consumers' personal financial circumstances, national economic expectations and attitudes to major purchases. It is 100 plus the average of the difference between positive answers and negative responses. A score above 100 shows more optimism than pessimism while a score below 100 denotes more pessimism.
Actual Previous Highest Lowest Dates Unit Frequency
75.60 87.60 130.90 75.60 1988 - 2022 points Quarterly

News Stream
New Zealand Consumer Confidence at Record Low
The Westpac-McDermott Miller consumer confidence index for New Zealand tumbled to a record low of 75.6 in the last quarter of 2022 from 87.6 in the previous period, in a sign more New Zealanders are pessimistic about the economic environment than those who are optimistic. Confidence has only come close to these sorts of lows twice before: first during the recession in the early 1990s, and during the Global Financial Crisis in 2008/09. Mounting financial pressures are the major concern that is worrying households, as living costs have been skyrocketing and borrowing costs increase sharply. The drop in confidence has been widespread across all age groups, income brackets and regions.
2022-12-18
New Zealand Consumer Confidence Improves, Mood Still Grim
Consumer Confidence in New Zealand increased to 87.60 points in the third quarter of 2022 from 78.70 points in the second quarter of 2022. The Westpac report stated, “Confidence has picked up over the past few months but even so, it’s hard to describe the mood in the country as anything but grim.” Households who think it is a good time to make a major purchase remains near record lows with 13.3 percent saying it is a bad time to buy. 22.9 percent of respondents stated they are worse off financially than a year ago.
2022-09-21
New Zealand Consumer Confidence at Record Low
The consumer confidence indicator in New Zealand declined further to 78.7 in the second quarter of 2022 from 92.1 in the previous period. It was the lowest reading ever recorded reflecting growing pessimism around the economic landscape. Households became increasingly concerned about their financial positions amid rising consumer prices and mortgage rates. Disruptions stemming from the Omicron outbreak also weighed on confidence.
2022-06-20