Consumers remain perky, the ANZ-Roy Morgan survey has found.
The survey's index lifted four points from its March level to 129. It has only rarely been higher than this in the past 10 years.
A net 12 per cent of respondents believe they are financially better off than they were a year ago. And a net 49 per cent consider it a good time to buy a major household item, up from a net 39 per cent in March and close to a post-recession high. A net 31 per cent expect to be better off financially in a year, up from a net 28 per cent in February and March.
Consumers should be feeling sprightly, ANZ chief economist Cameron Bagrie said.
"House prices keep rising, employment is on the up and interest rates are low."
The economy remained on track for 3 per cent real GDP growth over the year ahead.
"That sort of growth is more than enough to keep the economic wheels turning, employment rising and wage gains accruing," Bagrie said.
"Potential spoilers include the stratospheric New Zealand dollar and low dairy payout undermining incomes, a potential macro-prudential response to calm Auckland's property exuberance, and the normal hand-wringing over the global scene."
The survey recorded a further decline in inflation expectations, to 2.8 per cent. Six months ago it was 3.7 per cent.
The Reserve Bank is wary of low inflation outcomes becoming embedded in expectations and wage- and price-setting behaviour, at levels which would impede a return to its 2 per cent inflation target.
Bagrie said that at 2.8 per cent, expected inflation was still well above the middle of the Reserve Bank's 1 to 3 per cent policy band.
"Such surveys tended to have a positive bias but more importantly it is the lowest in the survey's history. The directional signal is as important as the level itself."