ANZ-Roy Morgan NZ Consumer Confidence bounces to 104.5 in June
|Sharon Zollner, Chief Economist at Australia and New Zealand Banking Group (ANZ) noted the ANZ-Roy Morgan Consumer Confidence Index recovered further in June. It has made back about half its fall, but is around 2009 levels.
Key quotes
“Consumer confidence bounced another 8 points in June to 104.5 but is still well under its historical average.
The net proportion of households who think it’s a good time to buy a major household item lifted 20 points to +5%, still recessionary levels.
The bounce is encouraging, but with unemployment set to rise sharply, we need to be realistic about how much spring is likely left.
The current conditions index and the future conditions index equalized in June.
There is increasing optimism that things will be better a year from now.”
Market reaction
The upbeat data failed to move the NZD, with NZD/USD trading modestly flat around 0.6430 so far.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.