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.