New Zealand consumer confidence lifts in August, survey shows By Reuters

By Lucy Craymer

WELLINGTON (Reuters) – Consumer confidence in New Zealand improved in August and while historically still weak it is well off its lows, a survey showed on Friday.

The ANZ-Roy Morgan consumer confidence index rose to 92.2 from 87.9 in the previous month. A reading above 100 shows optimism, while below that indicates pessimism.

“Consumers are feeling a little better, on the whole,” said ANZ chief economist Sharon Zollner. “Interest rates are falling, but it’s because the economy in recent months has been weaker than the Reserve Bank and other punters expected.”