NZ: Consumer confidence down 0.3 points to 103.5 in June – Westpac

Satish Ranchhod, senior economist at Westpac, points out that the New Zealand households remain downbeat about the economic backdrop as the latest Westpac McDermott Miller Consumer Confidence survey fell 0.3 points in June to a level of 103.5, leaving confidence well below average levels.

Key Quotes

“Households remain downbeat about the economic outlook, with consumer confidence nudging down again in the June quarter.”

“Households continue to highlight concerns about their personal financial situation, and this is weighing on spending appetites.”

“This provides a further indication that the New Zealand economy is slowing.”