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NZ consumer confidence down in Q1: survey
[WELLINGTON] Consumer confidence in New Zealand edged down in the first quarter, a survey showed on Monday, as households reacted to troubles with the global economy.
The Westpac-McDermott Miller consumer confidence index fell to 109.6 from 110.7 in the previous quarter. A reading above 100 indicates more optimists than pessimists.
"It's not surprising that there's been some pull back in confidence in recent months, Satish Ranchhod, senior economist at Westpac, said in a research note.
"Much of this was related to signs that conditions in the global economy have deteriorated, signalling tougher times ahead for many in the export sector."