Graphs Datatable Background Print Back
December 2016
The Westpac : McDermott Miller NZ Consumer Confidence Index for
December 2016 is 113.1
WESTPAC : McDERMOTT MILLER
CONSUMER CONFIDENCE SURVEY
19
December 2016
Excerpt for Joint Westpac: McDermott
Miller
MEDIA RELEASE
“Consumer confidence in
New Zealand lifted sharply this December quarter”, announced Richard Miller,
Managing Director of McDermott Miller (up 5.2 point to 113.1 on the Westpac
McDermott Miller Consumer Confidence index). “This is the biggest lift in New
Zealand consumer confidence over the last four years”, he noted. “Significantly all categories of consumers,
including those on low household incomes, are now optimistic”, he observed. ”Interestingly, the spirit of the “non-Auckland” consumers
has lifted highest (up 8.4 index pts higher than Auckland.”
“Strongly increased
optimism about New Zealand’s economy over the coming year underpins the rise in
consumer confidence”, said Richard Miller, “the reasons cited by respondents
differed depending on where they live and work.
Effective government economic policies and the prospect of tax cuts are
the main reasons cited by Auckland consumers for feeling this way. In contrast,
prospects of growth of industries in their regions and a good outlook for
farming and horticulture are the reasons most given by non-Aucklanders” he
reported.
New Zealand consumers
may feel more optimistic now, but this does not necessarily mean they will be
spending large this Christmas”, warned Richard Miller. “Only 36% of consumers think now is a good
time to buy big ticket items, and most consumers indicate that they would save
rather than spend a financial windfall.”
ENDS
19 December
2016
Richard Miller, Managing Director
McDermott
Miller Limited
Tel: 04 471 8500
Mobile: 027 451 0158
Index Background
The Consumer Confidence Index is based on a survey of
a representative sample of 1554 New Zealand households interviewed
during 1-10 December 2016. It analyses answers to five standard
questions on personal financial circumstances, expectations for the economy and
attitude to buying substantial household items. Index scores measure consumer
confidence in the economy, with a score of greater than 100 showing more
optimism than pessimism and vice versa for a score below 100 (for more
information see Survey Specifications).
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.