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ANZ-Roy Morgan New Zealand Consumer Confidence up 1.7pts to 98.3 in December

New Zealand Consumer confidence was up 1.7pts to 98.3 in December.

New Zealand Consumer confidence was up 1.7pts to 98.3 in December.

  • The proportion of people who believe it is a 'good time to buy a major household item' rose 3%pts to 40% while those saying it is a 'bad time to buy a major household item' was down 2%pts to 40% - for a neutral net balance of "0", after three months in the red below zero.
  • Inflation expectations were little changed at 5.6%. House price inflation expectations fell another 0.6% pts to 5.3%.
Turning to the detail:

  • Perceptions of current personal financial situations fell 3 points to 1%.

  • A net 12% expect to be better off this time next year, down another 3. While not negative, this is an unusually low reading outside a recession.

  • Households are evenly divided on whether it is a good or a bad time to buy a major household item, which is up 6 points. This is the best retail indicator in the survey.

  • Perceptions regarding the next year’s economic outlook bounced 8 points to -20%, still a very low level. The five-year outlook fell another point to -1%. It’s very unusual for this series to be negative.

  • House price inflation expectations fell 0.6%pts to 5.3%. They rose in Canterbury, but fell everywhere else.

  • CPI inflation expectations ticked down -0.1%pts from 5.7% to 5.6%, still super strong. Cost of living increases are likely contributing to wariness about splurging this Christmas.

Households’ response to whether it was a good time to buy a major household item skyrocketed in Wellington but remains subdued elsewhere. Those 50+ are the most comfortable spending, which isn’t unusual.


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Related Research Reports

The latest Roy Morgan Consumer Confidence Monthly Report is available on the Roy Morgan Online Store. It provides demographic breakdowns for Age, Sex, State, Region (Capital Cities/ Country), Generations, Lifecycle, Socio-Economic Scale, Work Status, Occupation, Home Ownership, Voting Intention, Roy Morgan Value Segments and more.

You can also view our monitor of Quarterly New Zealand Unemployment & Under-employment Estimates.

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Margin of Error

The margin of error to be allowed for in any estimate depends mainly on the number of interviews on which it is based. Margin of error gives indications of the likely range within which estimates would be 95% likely to fall, expressed as the number of percentage points above or below the actual estimate. Allowance for design effects (such as stratification and weighting) should be made as appropriate.

Sample Size

Percentage Estimate


25% or 75%

10% or 90%

5% or 95%