New Zealand consumer confidence lifted in April, suggesting a pick-up in the local economy as households feel more optimistic about their financial well-being.
The ANZ-Roy Morgan Consumer Confidence index rose to 114.0 in April from 110.2 in March, where a reading above 100 indicates there are more optimists than pessimists. The Current Conditions index advanced 7 points to 111.6, while the Future Conditions index rose 2 points to 115.7.
"Consumer confidence looks to be improving, though we need to see successive monthly lifts to make sweeping statements," Cameron Bagrie, chief economist at ANZ New Zealand, said in his report. "Lifts in consumer sentiment suggest the economy is gaining momentum, though we need to be mindful that New Zealand's net external debt position demands the domestic economy does not lead the recovery too far."
Government figures showed household spending continued to rise in the final three months of last year, growing 0.8 per cent for an 11th straight gain, though that demand has been mixed in the early months of this year.
Today's survey showed three of five sub-segments that make up consumer confidence improved. A net 4 per cent of households felt worse off compared with net 10 per cent in March, while expectations for a year from now showed a net 28 per cent of respondents thought they'd be better off, up from the previous month's 23 per cent.
