March’s ANZ-Roy Morgan consumer confidence index has been released, which reveals that consumer sentiment in New Zealand has collapsed to its lowest level in the series’ 18 year history:
Confidence about the New Zealand economy continues to sour, as illustrated in the next charts:
The slump in consumer confidence follows a sharp rise up the “misery index”, which is based on the sum of the inflation rate (CPI) and the unemployment rate. As shown in the next chart, New Zealand’s misery index surged to an all-time high:
The latest opinion poll from Roy Morgan showed that Jacinda Ardern’s Labour Party has fallen well behind the Opposition National Party:
The big question now is whether depressed New Zealanders will turn en masse against Jacinda Ardern?
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