NZ consumer confidence hits four-year high in January as retail gauge turns positive

NZ consumer confidence hit a four-year high as the key “big ticket purchase” gauge turned positive, but ANZ still sees only “par” growth amid offsetting headwinds and tailwinds. Summary:ANZ-Roy Morgan consumer confidence rose to 107.2 in January from 101.5, the highest since August 2021. ANZ sees the recovery in H2 last year arriving faster than expected, but expects “par” growth this year as momentum becomes harder to sustain. The outlook is framed as headwinds (rates, NZD strength, essentials inflation, election/global uncertainty) versus tailwinds (still-stimulatory rates, healthy balance sheets, stronger business confidence and hiring/investment intent). New Zealand consumer sentiment strengthened again in January, with the ANZ-Roy Morgan Consumer Confidence index rising to 107.2 from 101.5 — its highest reading since August 2021.