ANZ National chief economist Cameron Bagrie. Photo / Mark Mitchell
Consumer confidence has strengthened - marginally - in the latest ANZ Roy Morgan monthly survey.
The consumer confidence index rose two points to 128. It has oscillated between 136 and 126 over the past year, levels ANZ chief economist Cameron Bagrie describes as lively but not euphoric.
While Thursday's gross
domestic product figures confirmed a deceleration in the economy's momentum, that only meant the cycle was maturing from strong growth off low levels to moderate growth off good levels, he said.
"Little wonder sentiment remains perky." A net 10 per cent of respondents consider they are better off financially than a year ago, up from a net 7 per cent positive in August, and a net 39 per cent expect to be better off in a year's time, up from a net 35 per cent last month.
"It is still considered a great time to buy a major household item [by a net 38 per cent versus a net 40 per cent in August]. The New Zealand dollar is off its peak but imported goods are still cheap," Bagrie said.
