ANZ-Roy Morgan index rises 6 points to 86.5 but stays 21 points below January levels amid inflation and economic concerns.
New Zealand consumer confidence increased by 6 points to 86.5 in May, recovering partially from April lows. The index remains significantly lower than its January peak, reflecting ongoing economic pressures and uncertainty driven by petrol prices and global instability.
The current conditions index improved modestly to 77.2, while future conditions saw a stronger rebound to 92.7. Inflation expectations for the next two years dropped sharply to 5.3% from April’s record 6.6%, aligning closer to COVID-era levels. House price inflation expectations also eased, with regional disparities evident.
Despite the uptick, sentiment remains weak, with 20% of respondents still viewing it as a bad time to buy major household items. The economic outlook for the next 12 months improved slightly but remains negative overall.