New Zealand consumer confidence eases in May

[WELLINGTON] Consumer confidence in New Zealand eased slightly in May, a survey showed on Thursday.

The ANZ-Roy Morgan consumer confidence index was 116.2 compared with 120.0 in the previous month. A reading above 100 shows consumers are optimistic, while a reading below 100 indicates pessimism. "While moving at a marginally slower tempo, New Zealand consumers are still in a good rhythm," ANZ chief economist Cameron Bagrie said.

He noted that the Confidence Composite - which combines both consumer and business confidence data from ANZ - suggests GDP growth of around 3 per cent for 2016.

REUTERS