NZ Consumer confidence lifts

Business hand green graph, up, growthThe New Zealand consumer confidence index reached 101 in Q3 2016 – the highest score since Q1 2015, according to findings from consumer insights firm, Nielsen.

The index represents a five point increase from Q2 2016 and a seven point increase from a year ago (Q3 2015).

In the latest online survey, conducted August 10 – September 2, 2016, the three key drivers of New Zealand’s confidence all increased from the previous quarter.

“Increased optimism in the rural sector is set to translate into spend,” said Tony Boyte, director, Nielsen.

Immediate spending intentions of Kiwis has increased, rising from a 39 per cent from Q2 2016 to a high of 48 per cent in the third quarter of 2016, representing an increase of nine per cent for those planning to open their wallets for things they want and need.

Positive perceptions about local job prospects over the next 12 months increased in the third quarter of the year. Over half of New Zealand respondents (54 per cent) believed the job market would be good or excellent in the upcoming year, a quarterly increase of 8 percentage points.

Over (57 per cent) of New Zealand respondents regarded their personal finances positively, an increase of two percentage points from the previous quarter – a level that has been reasonable steady for three consecutive quarters.

The mood of rural consumers has improved. Eight in 10 New Zealand farmers and growers expect the business climate to stay the same or improve over the next 12 months, according to Nielsen’s Rural Report 2016, with dairy farmers and horticulturalists being the most optimistic.


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