NZ consumer sentiment up 0.6% on the month to 126.2
ANZ's summary:
- Consumer confidence lifted in August
- Moderation across the housing market is not impacting consumer sentiment. That's a healthy sign.
- Buoyant consumer confidence points to a solid pace of spending-based activity.
- House price expectations cooled further.
Consumers remain in a buoyant mood. The ANZ-Roy Morgan Consumer Confidence Index lifted from 125.4 to 126.2, with sentiment well above its long-run average of 119. Once we adjust for the seasonality at this time of year (the cooler months often bring the same for sentiment), the index rose 2 points to its highest level since July 2014.
As part of this release from the bank, Inflation expectations
- dipped to 3.0%, the fourth consecutive monthly fall
--
This is a very solid result indeed.
--
ANZ's monthly measure of consumer confidence in the New Zealand economy and how this affects their spending behaviour.
