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MARCH 2018
The Westpac : McDermott Miller NZ Consumer Confidence Index for March
2018 is 111.2
WESTPAC :
McDERMOTT MILLER
CONSUMER
CONFIDENCE SURVEY
20 March 2018
Excerpt for Joint Westpac: McDermott Miller
MEDIA RELEASE
“NZ household consumers appear to have recovered from
their loss of confidence recorded in the December 2017 Quarter” announced
Richard Miller, Managing Director of McDermott Miller Limited.
The Westpac : McDermott Miller survey-based Consumer Confidence
Index for New Zealand rose 3.8 points in the March quarter and now stands at
111.2.
“Consumers lost confidence in the December 2017 quarter
in the midst of electoral uncertainty and global instability” noted Richard
Miller, “and they have now had time to take stock of New Zealand’s and their
own situation.” “Responses to the March 2018 survey indicate that all
socio-economic categories of consumers are cautiously optimistic; more are
acknowledging that the financial security of their households is improving;
and, an increased proportion believe there will be ‘good economic times’ over
the year ahead” said Richard Miller.
“The lift in consumer optimism points to increased
consumer spending in the quarter ahead” suggested Richard Miller. “The
likelihood of this occurring in the retail sector is reinforced by the sharp
increase in the number of survey respondents believing ‘now is a good time to
buy’ big ticket items” he concluded.
ENDS
19 March
2018
Richard Miller, Managing Director
McDermott Miller Limited
Tel: 04 471 8500
Mobile: 027 451 0158
Index Background
The Consumer Confidence Index is based on a survey of a
representative sample of 1552 New Zealand households interviewed during 1-15
March 2018. It analyses answers to five standard questions on personal
financial circumstances, expectations for the economy and attitude to buying
substantial household items. Index scores measure consumer confidence in the
economy, with a score of greater than 100 showing more optimism than pessimism
and vice versa for a score below 100.
Acknowledgement
The Westpac: McDermott Miller Consumer Confidence Survey and Index
is owned by McDermott Miller Limited. Westpac: McDermott Miller should be
acknowledged as the source when citing the Index, just as Westpac-Melbourne
Institute should be acknowledged when citing the Australian Index of Consumer
Sentiment. Graphs supplied may be reproduced by the news media provided the
Westpac: McDermott Miller logo remains inset.