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June 2015


The Westpac : McDermott Miller NZ Consumer Confidence Index for June 2015 is 113.0






19 June 2015



“The Westpac: McDermott Miller New Zealand Consumer Confidence Index (CCI) for the June  Quarter slipped  4.2 points to  113  in the June 2015 Quarter ,” announced  Richard Miller, Managing Director in Strategy and Economics Consultancy, McDermott Miller, “New Zealand consumer s have been optimistic for twelve quarters in a row, but reached a peak of 121.7 in March 2014 and has since declined 8 .7 points  ”  he observed.


“This quarter, the largest movement among the five component questions of the CCI is a sharp decrease in the net percentage of consumers expecting good economic times in New Zealand over the  coming year (down 19 points from March to 4.8 and  26 points down from this time last year.”


 When we asked consumers what was the main reason for expecting good economic times over the next year in New Zealand we were told it would be the result of effective government economic policy (38%). Interestingly, those expecting bad economic times in the coming year, also tend to ascribe it to “wrong” Government economic policy (34%). In contrast, rural consumers expecting bad economic times over the year ahead also attribute it to poor outlook for farming (36% give this reason compared to 32% of consumers in secondary centres and only17% from metropolitan centres)”, observed Richard Miller.


“Confidence amongst consumers  employed in both the Private and Public Sectors dipped sharply  in the June  Quarter (down 7.3 CCI points to 117 point s and –8.7  points to 110.8 respectively )”, reported Richard Miller, “again, the main influence on the shift in sentiment is the expectation of good or bad economic times in the next twelve months.” “Some 44% private and 53% public sector consumers believe the effectiveness of government economic policies will be the main determinate of good economic times in the coming year, and 42 % public sector and 33 % private sector consumers believing the same economic policies are wrong and will result in bad economic times ” he observed .


“Generally, the June quarter Westpac - McDermott Miller New Zealand Consumer Confidence Survey and Index shows consumers remain optimistic, but many have accepted “feeling worse off financially” in the expectation that better economic times lie ahead.” observed Richard Miller, “The significant drop in the June quarter New Zealand CCI reflects growing doubts about current economic policy settings among many consumers . ”



19 June 2015

Richard Miller, Managing Director

McDermott Miller

04 471  8501

027  451 0158







Index Background

The Consumer Confidence Index is based on a survey of a representative sample of 1581 New Zealand households interviewed during 2-13 June 2015.  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).



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.




McDERMOTT MILLER LIMITED  Strategy and Economics Consultants



TELEPHONE (04) 471-8500