New Zealand data – December consumer confidence -8.6% m/m (prior -5.5%) | Forexlive

ANZ Consumer Confidence Index for December slumps further. To its lowest ever.

• December at 73.8 from November’s 80.7

ANZ remarks:

• The RBNZ came out guns blazing in the November MPS, signalling further aggressive OCR hikes in 2023 and a technical recession. That’s clearly spooked the horses, but it’s not yet clear exactly how far they have bolted. All eyes are now on the degree of follow-through from businesses reporting negative employment intentions, and consumers saying they will significantly tighten their belts.

Part of the survey is on inflation expectations:

• 5.2% in December from 5.3% prior