Consumer Confidence Remains Stable, For Some
March 21, 2016 New Zealand Finance
New Zealand consumers have remained generally optimistic throughout 2016, although wealthy consumers and rural consumers are seeing sharp declines in confidence.
Consumer confidence fell slightly in New Zealand over the three months ending March 2016, falling by 1.1 points to a level of 109.6 points on the latest McDermott Miller NZ Consumer Confidence Index released on March 21st.
While the Index does indicate a minor fall in confidence, overall buoyancy among consumers remained “firmly optimistic”.
However, it was also noted that there are sharp differences in confidence among different social and regional groups.
Metropolitan consumers saw an increase in confidence of 2.6 points, while secondary and rural consumers experienced declines of 3.7 points and 8.3 points respectively.
Similarly, affluent consumers underwent significant declines in confidence, with consumers earning between NZD 70 thousand and NZD 100 thousand experiencing a drop of 11.3 points, while those earning in excess of NZD 100 thousand saw a drop of 7.2 points.
Photo By: Summer Skyes 11