SEPTEMBER 2021
The Westpac : McDermott Miller NZ Consumer Confidence Index for
September 2021 is 102.7
WESTPAC
: McDERMOTT MILLER
CONSUMER
CONFIDENCE SURVEY
21 September 2021
Excerpt for Joint Westpac: McDermott Miller
MEDIA
RELEASE
“While lockdown has dented New Zealand’s confidence, the impact
is not as great as this time last year. Perhaps the knowledge that New
Zealanders have got through tough times before has helped consumers remain
broadly, albeit cautiously, optimistic about their own and New Zealand’s
economic future,” suggested Imogen Rendall, Market
Research Director of McDermott Miller Limited.
“Younger people aged 18-29 seem unaffected by the events of
the last few weeks with confidence remaining high at 111.5, a small increase of
1.2 points since last quarter. In contrast, those aged 30-49 have seen the
biggest drop of 9.8 points (down to 101.9). Perhaps the realities of juggling
jobs, home schooling and caring for those at risk or shielding, together with
increasing concerns about the immediate economic future of the country have had
an impact. Those aged 50 plus experienced a smaller drop in confidence of 2.8
points, but overall remain the most pessimistic across the different age
groups, with concerns about their immediate future and caution about the
long-term economic prospects of New Zealand,” noted Ms Rendall.
<ENDS>
21 September 2021
Contact:
Imogen Rendall
Market Research
Director
McDermott Miller Limited
Tel: +44 7843 096 788
Index
Background
The Consumer Confidence
Index is based on a survey of a representative sample of 1557 New Zealand
households interviewed during 1-11 September 2021. 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.