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New Zealand consumer confidence rises in April: survey
[WELLINGTON] Consumer confidence in New Zealand rose in April, a survey showed on Thursday, as concerns about falling dairy prices were largely ignored by consumers seeing strengths in other areas of the economy such as employment.
The ANZ-Roy Morgan consumer confidence index rose to 120.0 from 118.0 in the previous month. A reading above 100 shows optimism, while below that indicates pessimism.
"Consumers continue to just get on with it like clock-work. The economy is still performing well, outside of dairying. The unemployment rate is falling and labour demand is strengthening," said ANZ senior economist Philip Borkin in a research note.
Expectations for consumer price inflation over the next two years rose to 3.5 per cent from 2.9 per cent in the previous survey.