New Zealand - ANZ Consumer Confidence Index for September -0.2% m/m (prior -3.9%)
The index falls to 100.0 from 100.2 in August.
- initial bounce out of lockdown has given way to wariness consistent with subdued spending
- Fiscal support has been crucial but needs to be wound back, and households are clearly concerned about the economic damage that will become evident as that occurs. The economy has a large hole looming where summer tourism income used to be. We're poorer for a while, and need to consume a bit less
more to come