Consumer confidence in New Zealand reached its highest level in over four years during December, according to ANZ-Roy Morgan data released Friday. The figures showed a corresponding increase in discretionary card spending.
Consumer Confidence Index
December Reading:
101.5
Previous Month (November):
98.4
Threshold Note: A reading above 100 indicates optimism among consumers, while a figure below 100 signals pessimism.
ANZ Chief Economist Sharon Zollner stated that mortgage holders appeared more willing to spend as interest rates had eased.
"It will be interesting to see in January whether the recent change in direction in interest rates affects this sentiment, or whether the (central bank governor's) reassuring words about interest rates staying low for a considerable period ... see willingness to spend continue to lift," Zollner said.
Source: REUTERS