New Zealand ANZ-Roy Morgan consumer confidence dropped -16 pts to 81.7 in February, hitting a record low since data began in 2004. Inflation expectations were little changed at 5.6% while house price inflation expectations eased from 5.3% to 4.8%.
ANZ said: “This month’s data looks grim, but there are undoubtedly some temporary impacts in there. Time will tell what the other side looks like, but we do know that Omicron is fast and furious, and will blow through relatively quickly.
