New Zealand consumer confidence hits highest level since June

[SYDNEY] Consumer confidence in New Zealand rose in November to its highest level since June, ANZ-Roy Morgan data showed on Friday, as shoppers bought more discretionary items and retailers saw improved activity.

The consumer confidence index jumped to 98.4 in November from 92.4 in October. A reading above 100 shows optimism, while below that indicates pessimism.

“It’s good to see a decent lift in consumer confidence this month, though it is yet to break out of recent ranges,” ANZ chief economist Sharon Zollner said in a statement.

“Although it’s early days in terms of the economic recovery, this is not the only indicator suggesting that things are looking up for consumers.” REUTERS