Consumer confidence made a comeback in December, with a growing appetite to spend in the run-up to Christmas.
The ANZ-Roy Morgan headline index of consumer confidence lifted 3 points to 121.9 points in the latest month – a reading of 100 means pessimistic and optimistic consumers are balanced.
Within that index, the current conditions index lifted 3 points to 123.6 while the future conditions index rose 4 points to 120.8.
A net 36 per cent of consumers think now is a good time to buy a major household item, up 4 percentage points from last month. Perceptions regarding the next year's economic outlook lifted 7 percentage points to a net 14 per cent - was the highest level since March. The five-year outlook remained steady at a net 18 per cent.
"Consumers are feeling pretty good as Christmas approaches, with confidence lifting again to sit a bit above historically average levels. The proportion thinking it is a good time to buy a major household item bodes well for spending in the lead-in to Christmas," said ANZ Bank New Zealand chief economist Sharon Zollner.