NZ: Regional economic confidence deteriorating - Westpac

According to the Westpac-McDermott Miller Regional Economic Confidence survey, New Zealand’s regional economic confidence deteriorated in the quarter ending September 2018, with six of eleven regions showing a drop compared to the previous quarter, notes the research team at Westpac.

Key Quotes

“Households in New Zealand’s most southern regions were the most confident. Southland also posted by far the biggest gains”

“By contrast, households in the upper North Island have become less confident.”

“Confidence in regions with large metropolitan centres has also fallen, with Auckland by far the most pessimistic in the country.”

“Consumer confidence (a measure of households’ views of their own economic conditions) fell in six of eleven regions.”