Consumer behaviour

More good news, consumer confidence at nine year high

The Labour party were hoping that all the economic indicators would get worse in election year.

Unfortunately day after day and week after week all the indicators continue to improve.

The Herald reports:

New Zealand consumer confidence rose to a nine-year high in the first quarter of this year with optimism about the economy in the year ahead approaching record levels.

The Westpac McDermott Miller Consumer Confidence Index rose to 121.7 in March, up from 120.1 in the December survey, to the highest level since the credit-fuelled boom times of 2005. A reading above 100 indicates more optimists than pessimists. A net 35 per cent of those polled expect good times for the economy over the year ahead, up from a net 27.8 per cent in the December quarter and the third-highest reading in the survey’s history.  Read more »

It’s the economy stupid…

Labour and their fellow travellers the Green Taliban would ahve you believe that National don;t know what they are doing with the economy.

But a string of new statistics prove otherwise and show that we have a world leading manufacturing sector expansion underway:

Manufacturing PMI

The BNZ-BusinessNZ seasonally adjusted PMI for July stood at 59.5, which  was 4.3 points higher than June and a return to strong levels of expansion seen in May. Compared with previous July results, the 2013 value was the highest since the survey began in 2002, and the third highest monthly result on record. Overall, the first seven months of 2013 has averaged a healthy 56.3.  Read more »