[WELLINGTON] Consumer confidence in New Zealand softened in May as near term optimism about personal and broader economic outlooks receded, a survey showed on Friday.
The ANZ-Roy Morgan consumer confidence index fell to 123.9 from 128.8 in April. A reading above 100 shows optimism, while below 100 indicates pessimism.
The survey showed consumers feeling less well off financially than a year ago, and fewer expecting to be better off next year.
Respondents were also a shade less optimistic about the economy's prospects over the next 12 months.
Expectations for consumer price inflation over the next two years rose to a four month high of 3.6 per cent, from 2.8 per cent in the previous survey.