Consumer confidence in New Zealand increased to the highest level in three years in May as households turned more upbeat about the near-term outlook of the economy, data from a survey by ANZ and Roy Morgan showed Friday.
The headline consumer confidence index increased by 4.5 points from the previous month to 123.7 points in May, indicating that consumers felt far better off financially than earlier. The latest reading was the highest in around three years. An index reading above 100 points to optimism, while one below suggests pessimism.
According to the bank, the increase in confidence was likely driven by the improvement in the employment market and strong house prices.
The sub-indicator that measures households' views of the current conditions moved up 4 points sequentially to 123 in April, hitting the highest level since December 2007.
At the same time, the measure of consumers' expectations for future conditions advanced by 5 pints to 124 during the month, the survey showed.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.