The ANZ-Roy Morgan Consumer Confidence measure fell four points in June but the index remained positive at 122.The index continued to indicate more optimists than pessimists. It was compiled after the Government's budget, after a better than expected payo
The ANZ-Roy Morgan Consumer Confidence measure fell four points in June but the index remained positive at 122.
The index continued to indicate more optimists than pessimists. It was compiled after the Government's budget, after a better than expected payout forecast from Fonterra and after the Reserve Bank raised the official cash rate by 25 basis points to 2.75 percent.
While the headline confidence measure effectively erased the gain seen in May, there were some larger than usual movements within the component questions.
There was a 10-point decline in the proportion of respondents who expect to be financially better off next year.
Offsetting this was a seven-point increase in those thinking now was a good time to purchase a major household item.
The gap between current and future conditions continued to narrow in June, courtesy of a 3.6 point increase in the former to 111.8 and a nine-point decline in the latter to 128.8.
Confidence has effectively been unchanged in trend terms over the past four months.
