16 Jun 2014
NZ consumer confidence softer-than-expected - BNZ
FXStreet (Bali) - Today's NZ consumer confidence read was lightly softer than Strategists at Bank of New Zealand had been expecting, after a 121.2 print vs 121.7 back in Q1.
Key Quotes
"This morning’s Q2 Westpac McDermott Miller (WMM) consumer confidence index was a little softer than we would have thought. It slipped to 121.2, from 121.7 back in Q1. When we seasonally adjust, we get a dip to 120.6, from 123.8."
"Still, the level in this case remains substantially above average. It’s pointing to real consumption growth in the order of 4.5% this year, rather than the 5.0% it signalled before."
"This remains above the 4.0% we are forecasting. So it’s mainly having the effect of moderating upside risk to our forecasts in this area of the economy."
Key Quotes
"This morning’s Q2 Westpac McDermott Miller (WMM) consumer confidence index was a little softer than we would have thought. It slipped to 121.2, from 121.7 back in Q1. When we seasonally adjust, we get a dip to 120.6, from 123.8."
"Still, the level in this case remains substantially above average. It’s pointing to real consumption growth in the order of 4.5% this year, rather than the 5.0% it signalled before."
"This remains above the 4.0% we are forecasting. So it’s mainly having the effect of moderating upside risk to our forecasts in this area of the economy."