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DECEMBER
2013
The Westpac : McDermott Miller NZ Consumer Confidence
Index for December 2013 is 120.1
WESTPAC : McDERMOTT MILLER
CONSUMER CONFIDENCE SURVEY
16 December 2013
“New
Zealand Consumer Confidence continues to strengthen,” announced
“The net percentage of
consumers expecting
good economic times over the next year is 27.9%, up 13.8 points and is at
its highest since
December 2004. The main
reason given for this expectation is that government economic policies are effective - now 25%, up 4 points since September.”
“The net percentage of
consumers saying
their personal financial situation has improved over the past year is 0.4%, up 9.8
points – the first
time this has been positive
since December 2007. The main reason given for this is a salary/wage rise (29%), followed by end
of/improvement in financial commitments (20%). Some 14% ascribed this to
improved profit in
own business (up 6 points since September).”
“Optimism
prevails across all income groups and all parts of
“The net percentage of high
income consumers expecting
good economic times over the next year is 50.7%, up 15.5 points and the highest since March 2005. The main reason given for this
is that government
economic policies are effective - up 5 points to 25%.
The net percentage of high
income consumers saying
their personal financial situation has improved over the past year is stands at
31.8%, up 7.1 points, highest
since December 2006. The main reasons given
for this are a Salary/Wage rise (37%)
“But at
even at the other extreme, consumers in low income households ($30,000 and
below) are optimistic (for the first time since December 2009) with an Index of
102.3” he said.
“The net percentage of low
income consumer expecting
good economic times over the next year is 9.7 %, up 12.3 points highest since
June 2009. The main reasons cited
for this are
“effective government policies”, “the recession is over” and “Better export prospects” all at 18%.
“There was a jump in the net percentage of low
income consumers saying
their personal financial situation has improved over the past year. Some 32.2 % now perceive themselves to be worse off, but this is down from
53.4 % in September, ie a net improvement of 21.2%. The main reason for
perceiving themselves to be better off is a salary or wage increase (25%) but previously non-working
person beginning work and improvement in financial commitments are also important
(both 18%).”
“Once
again, confidence of consumers working in the Private Sector has increased, up
1.4 points to 126.8 from September. This
is a record high level of optimism”, observed
“The net percentage of
Private Sector consumers expecting
good economic times over the next year is
37.3 %, up 10.7 points and is
te highest since March
2005 (start of this series). The main reason this is ascribed to is effective government policies
(24%).”
“The net percentage saying their
personal financial situation has improved over the past year is 9.2%, highest
since December 2006. Main reason is salary/wage rise (32%) but improvement
profit in own business is also important (20%, up by 5 points since September).”
Private Sector Consumers
are also optimistic
about
“Confidence of consumers working in the Public
Sector has also increased, up 4.4 points to 118.5 from September 2013, the highest level since September 2009”, he
noted.
“The net percentage of
Public Sector consumers expecting
good economic times over the next year is 20.7 %, up 16.7 points highest since March 2005
(start of this series). Main reason this is ascribed to effective government
policies (26%).”
The net percentage saying their
personal financial situation has improved over the past year is up 12.2 points
to net 9.6%, the highest since December 2007.
Main reason given for this is
a salary/wage
rise (32%) and improvement in financial commitments (21%).”
“The
universal surge in Consumer Confidence points to strong growth in spending by
consumers on Christmas and New Year season goods, holidays and leisure
activities”,
Managing
Director
McDermott
Miller Limited
04
471 8500
027
451 0158
Email: strategies@mcdermottmiller.co.nz
Website:
http://www.mcdermottmiller.co.nz/
Index Background
The
Consumer Confidence Index is based on a survey of a representative sample of
1569
Acknowledgement
The Westpac : McDermott Miller Consumer
Confidence Survey and Index is owned by McDermott Miller Limited. Westpac :
McDermott Miller should be acknowledged as the source when citing the Index,
just as Westpac-Melbourne Institute should be acknowledged when citing the
Australian Index of Consumer Sentiment. Graphs supplied may be reproduced by
the news media provided the Westpac : McDermott Miller logo remains inset.