NZ: Consumer confidence down 2.6 points to 108.6 in June - Westpac

Michael Gordon, Senior Economist at Westpac, notes that New Zealand’s consumer confidence fell in June, taking it slightly below its long-run average.

Key Quotes

“The drop in confidence was widespread, and is consistent with the recent signs that the edge has come off the economy’s upturn.”

“More households say that now is a good time to buy major household items, but this may reflect an expectation of price rises rather than a greater appetite to spend.”

“Households’ inclination to save remains low.”