Consumers still confident

Sharon Zollner
Sharon Zollner
The softer housing market and  election uncertainty have failed to  dent consumer optimism, according to the latest ANZ-Roy Morgan NZ Consumer Confidence Index.

ANZ senior economist Sharon Zollner said New Zealand consumers appeared to be "a resilient lot".

The index eased by 3.6 points  from 129.9 to 126.3 in October, a  historically high level. The  consumer confidence seasonality index  fell four points to 129.1, still the third-highest level in the past three years, she said.

The current conditions index dipped 2.2 points to 124 and the future conditions index fell 3.8 points to 127.8.

Consumers felt wealthier, Ms Zollner said.

A net 15% felt better off financially  than a year ago, down from September’s 19%,  a 10-year high. The 10-year average was slightly negative, meaning the October reading compared well with the average.

A robust net 34% believed it was a good time to buy major household items.

Perceptions of the economic outlook fell, she said.

The number optimistic about  the economy one year out fell from 30% to 25% and the five-year outlook fell from 29% to 25%.

Auckland  was now the least optimistic region. Confidence rose in Wellington.

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