New Zealand data - November consumer confidence improves to 98.4 (prior 92.4)

ANZ-Roy Morgan consumer confidence in NZ for November 2025.

Up 6.5% m/m to 98.4, its highest level since June:

• in October the index fell 2.3% to 92.4

ANZ express a concern:

• The proportion of households thinking it’s a good time to buy a major household item (the best retail indicator) rose 5 points but is still net negative at -9.
• This indicator hasn’t been positive in more than four years.

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The survey also asks about inflation expectations:

• lifted slightly from 5.1% to 5.2%

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The kiwi $ is little changed on the data.

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Its been a run of good news from NZ this week, a rate cut from the RBNZ:

• investingLive Asia-Pacific FX news wrap: AUD up (high CPI), NZD up (rate cut), JPY up (BoJ)

and the:

• New Zealand Q3 retail sales show huge jump, much improved from Q2

• New Zealand November business confidence 67.1% (up from 58.1% prior)