New Zealand Westpac Consumer Confidence Index rose notably from 80.2 to 88.9 in Q4, hitting the highest level in nearly two years. Present Conditions Index rose from 69.5 to 77.1. Expected Conditions Index also rose from 87.4 to 96.7.
However, Westpac noted that the index is still below historical average. This means “many more New Zealanders [are] feeling pessimistic about economic conditions.” But it’s important to recognize the positive trajectory reflected in these recent months. The rise in the Consumer Confidence Index is an “encouraging sign,” as noted by Westpac.
