New Zealand Consumer Confidence Improves Sharply

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Consumer confidence in New Zealand increased in the second half of 2009, results of a survey by the MasterCard Worldwide showed on Tuesday.

The MasterCard world wide index of consumer confidence for New Zealand climbed to 69.7 in the second half of 2009, a peak in two years, from 21.5 recorded in the previous six months period. The index reading, released twice a year, is calculated with zero as the most pessimistic, 100 as most optimistic and 50 as neutral. A year ago, the reading stood at 33.7.

The survey showed that 38% of respondents believe the employment situation will improve in the next six months, while 48% expect that the economy will get better for this period. Further, the survey found that consumer confidence tends to be higher in Auckland than in Wellington.

The MasterCard Worldwide Index of Consumer Confidence is based on a survey which measures consumer confidence on prevailing expectations in the market for the next six months based on five economic indicators: Economy, Employment, Stock Market, Regular Income and Quality of Life. New Zealand consumers were optimistic across all five economic factors.

The latest survey was conducted from 1 October to 9 November 2009 and involved 10,623 consumers from 24 markets, MasterCard said. The global survey for Asia/Pacific, Middle East and Africa markets found that 21 of the 24 markets polled reflected positive consumer sentiment, MasterCard said.

Consumer confidence in New Zealand increased in the second half of 2009, results of a survey by the MasterCard Worldwide showed on Tuesday. (Market News Provided by RTTNews)