NZ: Consumer confidence down 5 points to 107.4 in December - Westpac

Eren Sengezer FXStreet

"Despite the holiday season being upon us, it seems that many New Zealand households aren’t actually feeling that festive. In fact, consumer confidence has fallen to below average levels late in 2017. That’s been reflected in the latest Westpac McDermott Miller Consumer Confidence Index, which dropped 5 points in the December quarter to a level of 107.4," Westpac reported on Monday.

Key highlights

The drop in confidence appears to be partly a response to the change in Government.

The biggest drop in confidence was among better off households, while confidence actually rose slightly among households on lower incomes.

Households are concerned about the general economic environment and their personal financial situation.

This will put a dampener on spending plans ahead of the holidays.

Author

Eren Sengezer

FXStreet

As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.

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