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May 17th, 2013 
Peter Nolan
NEW Zealand consumers continue to get more optimistic as rising house prices and an improving labour market underpin the rosier outlook.
The ANZ-Roy Morgan consumer confidence index rose 4.5 points to 123.7, with more respondents in the May survey feeling better off financially than they did a year ago, the first positive reading since March 2008.
The current conditions index advanced four points to 123 and future conditions gained five points to 124.
“Lifting business confidence had earlier signalled the economy was picking up, but now the baton has been passed to the consumer,” ANZ New Zealand chief economist Cameron Bagrie said in his report.
“The question is how durable a sentiment-led pick-up in consumer spending can be in the absence of an income generation backbone.”
The survey of 1,028 people, found a net one per cent feel better off than a year ago, compared to a net two per cent feeling worse off in April.
A net 36 per cent expect to be better off next year, up from 28 per cent last month.
People were more upbeat about the economic outlook, with a net 12 per cent more optimistic about the year ahead from seven per cent, and a net 25 per cent upbeat about the economy five years out, compared to 24 per cent in April.
A net 44 per cent of respondents said it’s a good time to buy big ticket items, up from 40 per cent last month.
Government figures last month showed increasing discounting among retailers was one of the key ingredients in keeping the annual pace of inflation at 0.9 per cent.
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