Consumer confidence across New Zealand has risen by 5.1 points to 98.3 in April, according to ANZ bank and Roy Morgan.
This follows slips in recent months, including a 3.4 point slip last month to its lowest point since October last year.
The data shows that the proportion of households thinking it’s a good time to buy a major household item – which Roy Morgan calls the best retail indicator – rose 5 points, but at a net rating of minus 11.
Inflation expectations bumped up 0.5 points to 4.7 per cent, the highest reading since July 2023. Roy Morgan and ANZ say this may be related to global tariff talk, “but since New Zealand is not putting on new tariffs, global developments are unlikely to be inflationary here,” the pair shared.
The future conditions index made up of forward-looking questions rose 4 points to 105.2. The current conditions index lifted 6 points to 88.0.
Net perceptions of current personal financial situations rose 8 points to minus 13 per cent with 26 per cent (up 2 per cent points) of New Zealanders saying they are 'better off financially' than this time a year ago compared to 39 per cent (down 5 per cent points) saying they are 'worse off financially'.
A net 23 per cent of New Zealanders expect to be better off this time next year, up 7 points from March, with 44 per cent (up 2 per cent points) of New Zealanders expecting to be 'better off financially' this time next year compared to only 22 per cent (down 4 per cent points) who expect to be 'worse off financially'.
A net 11 per cent of New Zealanders think it’s a bad time to buy a major household item, an improvement of 5 points from April with 44 per cent (unchanged) of New Zealanders who say it is a 'bad time to buy a major household item' compared to only 33 per cent (up 4 per cent points) who say it is a 'good time to buy a major household item'.
Meanwhile, net perceptions regarding the economic outlook in 12 months’ time rose 4 points to minus 16 per cent in April and the 5-year-ahead measure rose from 6 per cent to 9 per cent.
House price inflation expectations were steady at 3.4 per cent year-over-year.
Two-year-ahead CPI inflation expectations jumped from 4.2 per cent to 4.7 per cent, the highest read in nearly two years.
ANZ and Roy Morgan believe the most telling question for retailers is whether people think it’s a good time to buy a major household item. While it did improve, data showed that it’s still a long way from suggesting good times for the retail sector.
New Zealand's consumer confidence is now more than 10 points above Australia's consumer confidence index.