Consumer Confidence Rises in New Zealand

By Lucy Craymer

WELLINGTON (Reuters) – Consumer confidence in New Zealand improved in August according to a survey released on Friday. While historically still weak, the index shows significant improvement from its lows.

The ANZ-Roy Morgan consumer confidence index increased to 92.2 from 87.9 in the previous month. A reading above 100 indicates optimism, while below that figure reflects pessimism.

“Consumers are feeling a little better, on the whole,” said ANZ chief economist Sharon Zollner. “Interest rates are falling, but it’s because the economy in recent months has been weaker than the Reserve Bank and other pundits expected.”