FX.co ★ NZ Consumer Confidence Drops From Highest in Over 4 Years

ANZ-Roy Morgan Consumer Confidence fell to 100.1 in February 2026, down from 107.2 in January, reversing January’s sharp jump to a more-than four-year high. The share of households viewing it as a good time to buy a major household item—a key indicator for retail activity—dropped 5 points to -4, slipping back into negative territory.

The future conditions index retreated to its November level (106.9 vs 113.5 in January), while the current conditions index declined to just below its year-end reading (90.0 vs 97.7). Assessments of current personal finances also weakened (-16% vs -6%), suggesting that the recent economic setback is now being felt at the household level. Even so, a net 20% of respondents expect their financial situation to improve over the next year.

Expectations for the economy over the coming year deteriorated, falling 7 points to -8%, and the five-year outlook eased 4 points to +8%. House price inflation expectations edged lower (3.6% vs 3.7%), while two-year inflation expectations were largely unchanged at 4.7%.