New Zealand's consumer sentiment index has seen a significant uptick in the fourth quarter of 2024, according to Westpac's latest figures. Released on December 17, 2024, the data reveals that the consumer sentiment index has jumped from 90.8 in the third quarter to a more optimistic 97.5.
This marked improvement signals a revival of consumer confidence as the index edges closer to the neutral 100 mark, which indicates an even balance between positive and negative sentiments among New Zealand consumers. The 6.7 point increase from the previous quarter suggests that consumers may be feeling more secure about their financial well-being and the country's economic prospects as the year draws to a close.
The rise in consumer sentiment could potentially drive increased consumer spending, a crucial component of New Zealand's economic growth. However, analysts may continue to monitor global economic conditions and domestic policy changes that could impact the further improvement or stability of consumer confidence going into 2025.
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