ANZ-Roy Morgan Consumer Confidence

ANZ-Roy Morgan Consumer Confidence is a monthly measure of consumer confidence across New Zealand households and how this affects their spending behaviour.

 

 

2025 editions

April 2025

ANZ-Roy Morgan Consumer Confidence rose 5 points to 98.3 in April, shoring up the upward trend that was starting to look wobbly.  The proportion of households thinking it’s a good time to buy a major household item (the best retail indicator) rose 5 points, but at -11 it’s still nothing flash. Inflation expectations soared 0.5pts to 4.7%, the highest reading since July 2023. It may be related to global tariff talk, but since New Zealand is not putting on new tariffs, global developments are unlikely to be inflationary here.


March 2025

ANZ-Roy Morgan Consumer Confidence fell 4 points to 93.2 in March. While it’s still trending higher, it’s fair to say it’s making hard work of it.  The proportion of households thinking it’s a good time to buy a major household item, the best retail indicator, eased 1 point to -16. Inflation expectations rose 0.2%pts to 4.2%. While that’s a small increase, it’s the first time since June 2024 that expectations have been above 4%.


February 2025

ANZ-Roy Morgan Consumer Confidence rose marginally to 96.6 in February. The proportion of households thinking it’s a good time to buy a major household item, the best retail indicator, lifted 1 point to -15. Inflation expectations were little changed at 4.0%, continuing their stable run.


January 2025

ANZ-Roy Morgan Consumer Confidence fell 4 points to 96.0 in January.  The proportion of households thinking it’s a good time to buy a major household item, the best retail indicator, dropped a sharp 15 points to -16. Inflation expectations were little changed at 3.9%. They have been very stable in recent months.