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Financial News: New Zealand Consumer Confidence Drops In Q2

New Zealand Consumer Confidence Drops In Q2

06/17/2019 - 23:18:00 (RTTNews)

(RTTNews) - New Zealand's consumer sentiment weakened slightly in the second quarter as households remained downbeat about the economic backdrop, survey data from Westpac showed Tuesday.

The Westpac McDermott Miller consumer confidence index dropped 0.3 points to 103.5 in June.

Among sub-components, the indicator for present situation fell to 106.6 from 107.6 a quarter ago. Meanwhile, the expected conditions index rose marginally to 101.4 from 101.3.

The index measuring current financial situation improved to -4.7 in the second quarter from -8.3. Likewise, the expected financial situation indicator climbed to -3.2 from -6.5.

The 1-year ahead economic outlook rose slightly to -4.6 from -5.1. At the same time, the 5-year economic outlook dropped to 11.9 from 15.4 in the previous quarter.

The 'good time to buy' index declined to 17.9 in the second quarter from 23.4 in the preceding period.

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