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Financial News: New Zealand Consumer Confidence Improves In January

New Zealand Consumer Confidence Improves In January

02/01/2018 - 23:15:00 (RTTNews)

(RTTNews) - New Zealand's consumer confidence strengthened for the first time in four months in January, survey figures from ANZ Bank showed Friday.

The ANZ Roy Morgan Consumer Confidence Index climbed to 126.9 in January from 121.8 in December.

A reading above 100 indicates optimism, while below that shows pessimism.

The current conditions index rose notably by 8.1 points to 131.3 in January, which was the highest level since 2007. The future conditions index lifted 3.0 points to 124.0.

"The stabilization in the housing market and the fact uncertainty surrounding the election has waned have perhaps cleared the path for a strong labor market to support consumer sentiment," Sharon Zollner, chief economist at ANZ Bank, said.

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