New Zealand consumer confidence lifts slightly, remains low

CONSUMER confidence in New Zealand was slightly higher in September compared with the prior month, but the level remains very low, ANZ-Roy Morgan data showed on Friday.

The consumer confidence index rose to 86.4 in September from August’s 85.0. A reading above 100 shows optimism, while below that indicates pessimism.

“Consumers remain wary, with overall confidence drifting along at very pessimistic levels since early 2022,” said ANZ senior economist Miles Workman in a statement.

“Somewhat surprisingly, some indicators have become a little less pessimistic lately among mortgage holders. Confidence lifted a little further in September for those paying down mortgages and so too did house price expectations (probably not a coincidence),” he added. REUTERS