FX.co ★ New Zealand Consumer Morale Weakens in August

The ANZ–Roy Morgan Consumer Confidence Index eased to 98.0 in August 2026, remaining below the neutral level of 100 but standing 18 points above its April low. The proportion of households viewing it as a good time to purchase a major household item—a key gauge of retail demand—fell 5 points to a net balance of -12, underscoring the ongoing challenges facing the retail sector.

Two-year inflation expectations were largely unchanged at 4.7%. House price expectations softened slightly, edging down to 2.5% from 2.6%.

Forward-looking sentiment showed a modest improvement: the future conditions index rose to 107.7 from 106.5, staying above the neutral 100 threshold for a second consecutive month. In contrast, the current conditions index declined to 83.4 from 88.5. Assessments of current personal finances deteriorated as well, with the net balance falling to -21% from -16%.

Economic expectations for the coming year improved marginally, with the net balance ticking up from -13% to -12%. The five-year outlook also strengthened slightly, rising 1 point to +13%. Notably, a net 22% of respondents expected to be better off by this time next year—the strongest reading since January.