The Westpac McDermott Miller Consumer Confidence index rose two points in June, taking it to a level of 91.2. Consumer confidence remains a fair bit below average levels.

• It’s been a bumpy and uncertain few months. And against that backdrop, New Zealand households have remained nervous about the economic outlook.
• The Westpac McDermott Miller Consumer Confidence index rose two points in June, taking it to a level of 91.2. That’s a fairly modest rise after the sharp fall we saw last quarter, and leaves consumer confidence a fair bit below average levels (Note: A level below 100 indicates that there are more households who are pessimistic about the outlook than those who are optimistic).
• That continued softness in economic confidence comes against a backdrop of mixed economic conditions. While domestic economic growth is now turning higher, for now activity remains uneven across regions and industries. At the same time, a number of major geopolitical events continue to cast shadows over the outlook.