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MARCH
2013
The Westpac : McDermott Miller NZ Consumer Confidence
Index for March 2013 is 110.8
WESTPAC : McDERMOTT MILLER
CONSUMER CONFIDENCE SURVEY
22 March 2013
“Consumer confidence in New Zealand
dipped slightly in the March quarter, but
remains firmly optimistic, at least in the short term” announced Richard Miller, Managing Director of Strategy
Planning and Economics Consultancy, McDermott Miller. The Westpac: McDermott
Miller March 2013 Consumer Confidence Index stands at 110.8, down 0.3 points on
the December 2012 quarter result)
“The most obvious drag on the
Index in the March 2013 quarter has been Wellington Urban Area (down 12.4
points from 117.5 in December 2012 to 105.1 in March 2013). Consumers in Wellington are more gloomy about the future prospects for
the New Zealand
economy and their own future expectations than are consumers in other parts of
the country. This shift reflects continuing pressure through job losses in the
public sector during the quarter as well as a reversal of previously strongly
positive growth in sentiment over the June and December 2012 quarters” he
said.
“The sentiment of consumers in the
private and public sectors moved in opposite directions for the first time
since the June 2012 quarter” observed Richard Miller
(private sector consumer confidence lifted 0.7 points over the December quarter
to 115.5, while public sector consumer sentiment fell 1.4 points to 111.5).
“Public sector consumers are becoming less optimistic about the future of the
economy and their own financial positions than are private sector consumers,
but both sectors remain strongly optimistic” stated Richard
Miller.
“The general level of consumer
confidence remains high, particularly in the Auckland and Christchurch
metropolitan areas, and is well above the level of March 2012 (102.4 compared
to 110.8 in March 2013)”, observed Richard Miller,
“but volatility of the global economy and continuing anxiety about costs rising
more than household income have shaken consumer sentiment. Consumer confidence could yet experience more
swings before long-term stability is re-established”, suggested Richard Miller.
Richard Miller
Managing
Director
McDermott
Miller Limited
04
471 8500
027
451 0158
Email: strategies@mcdermottmiller.co.nz
Website:
www.mcdermottmiller.co.nz
Index Background
The
Consumer Confidence Index is based on a survey of a representative sample of
1582 New Zealand
households interviewed during 1-10 March 2013.
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.
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