Although New Zealanders’ confidence in the economy has dropped to 52.0 points, they still remain significantly more positive than their Australian counterparts (42.4 points), the latest MasterCard Index of Consumer Confidence has revealed.
NZ’s attitude to employment has certainly affected the figures, dropping 17.5 points to 41.8, even though both unemployment rate and regular income remained steady. Employers are feeling more cautious about hiring in early 2016 and, as a result, people appear to be more settled and risk adverse.
“New Zealanders feel somewhat unsure about the performance of the economy and less positive about their future employment prospects than previous surveys, however it is nowhere near our lowest recorded score of 21.5 in 2009,” said Peter Chisnall, NZ country manager, MasterCard.
In the meantime, developing markets in the Asia Pacific region, particularly Myanmar, Vietnam and India, are showing signs of improved optimism.