ANZ Consumer Confidence Index for December slumps further. To its lowest ever.
- December at 73.8 from November's 80.7
ANZ remarks:
- The RBNZ came out guns blazing in the November MPS, signalling further aggressive OCR hikes in 2023 and a technical recession. That’s clearly spooked the horses, but it’s not yet clear exactly how far they have bolted. All eyes are now on the degree of follow-through from businesses reporting negative employment intentions, and consumers saying they will significantly tighten their belts.
Part of the survey is on inflation expectations:
- 5.2% in December from 5.3% prior
