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Financial News: New Zealand Consumer Confidence Rises For Second Month

New Zealand Consumer Confidence Rises For Second Month

06/20/2017 - 00:08:00 (RTTNews)

(RTTNews) - New Zealand's consumer confidence improved for the second straight month in June, survey figures from ANZ bank showed Tuesday.

The ANZ Roy Morgan Consumer Confidence Index rose to 127.8 in June from 123.9 in May. Moreover, the latest reading was the highest in five months.

An uplift in confidence points to more spending-based activity, ANZ said.

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

Consumers' expectations about the general economic situations of the country for the next year strengthened in June. The corresponding index climbed to 23 from 15 in May.

The index measuring their own financial situation for the next twelve months improved marginally to 33.0 in June from 32.0 in the prior month.

Inflation expectations remained steady at 3.5 percent in June, while national house price expectations eased from 4.6 percent to 4.0 percent, the lowest since August 2014.

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