Consumer Confidence Index

More good news: people have money to spend and they are happy to spend it

People are feeling comfortable, and a good indicator of that is spending patterns.

New Zealand consumer confidence gained in January, with its stability notable considering the turbulent state of the global economy, according to the latest ANZ-Roy Morgan Consumer Confidence Index.

After dipping 4 points last month, the index rose 3 points to 121.4 in January, in line with the historical average of 119. Current expectations rose 4 points, while future expectations rose 2 points, with the former a positive sign for spending trends, ANZ’s chief economist Cameron Bagrie said.

“The New Year has started horribly for global financial markets, with commodity prices and equities being thumped – but so far it hasn’t affected local sentiment,” Bagrie said.

“It’s obviously a serious risk for our economy if the turmoil continues, but developments aren’t all bad news for consumers – lower oil prices will feed through into retail petrol prices in time, leaving more money in pockets, and lower interest rates are freeing up cash too.”    Read more »

And still more good news, business confidence hits 20 year high

Labour can’t catch a trick right now as the economy booms.

Now the latest NZIER Quarterly Survey of Business Opinion show business confidence is the highest since 1994.

The economy is running at the best pace in more than a decade and business confidence is the highest since 1994 according to a new survey.

The latest NZIER Quarterly Survey of Business Opinion released today shows optimism and activity were being translated into hiring, investment and better profits.

“The underlying trend is very, very strong – stonking,” NZIER principal economist Shamubeel Eaqub said.

Retail spending surged to its highest level since 1994 and building was at its best since December 2003.

The survey shows confidence about the general business situation remained at net 52 per cent of firms positive, seasonally adjusted, the highest since June 1994.

The survey showed economic activity got stronger this year.  Read more »

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 »

More good news

Labour is really going to find it hard to continue to bad mouth the government and the economy as the economic news just keeps on getting better and better.

The latest ANZ business outlook survey has business confidence at a 20 year high.

Business confidence survey readings are the strongest we’ve seen since  1994.

  • A net 71 percent of firms are optimistic about general prospects – the highest reading since March 1994.
  • Firms’ activity expectations regarding their own business (+59) rose to the highest reading since June 1994.
  • Expected profitability (+45) is the highest since April 1994.
  • A net 32 percent of businesses expect to be hiring more staff – the highest reading since December 1992.
  • Investment intentions (+35) are the strongest since March 1994.

Read more »