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SEPTEMBER 2017
The Westpac : McDermott Miller NZ Consumer Confidence Index for September 2017 is
112.4
WESTPAC : McDERMOTT MILLER
CONSUMER
CONFIDENCE SURVEY
20 September 2017
Excerpt for Joint Westpac: McDermott Miller
MEDIA
RELEASE
“Consumer confidence in
New Zealand fell slightly this September quarter but households remain firmly
optimistic”, announced Richard Miller, Managing Director of McDermott Miller
“(down 1.0 point to 112.4 on the Westpac McDermott Miller Consumer Confidence
index)”.
“All categories of
consumers are optimistic, but there is a high level of uncertainty about the
outlook for the New Zealand economy over the short and medium terms” noted
Richard Miller. “This is understandable, given the uncertainty surrounding the
general election and growing concern at increasing international political and
economic instability,” suggested Richard Miller. “It will be interesting to see whether
consumer uncertainty translates into positive or negative views of New
Zealand’s economic outlook, once the composition of the next Government becomes
clear” he conjectured.
“Consumer uncertainty
is leading to a more cautious approach to spending with just 34% of consumers,
this September, believing now is a good time to buy major household goods” said
Richard Miller. “Consumer-led economic growth seems most unlikely in the coming
quarter” he concluded.
ENDS
20 September 2017
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 1553 New
Zealand households interviewed during 1-10 September 2017. 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 (for more
information see Survey
Specifications).
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.