SYDNEY (Reuters) – Consumer confidence in New Zealand slightly rose in February though the indice that tracks consumers’ plans on buying a major household item remained relatively subdued, ANZ-Roy Morgan data showed on Friday.
The consumer confidence index nudged higher to 96.6 in February from 96.0 in January. A reading above 100 shows optimism, while below that indicates pessimism.
A net 15% think it is a bad time to buy a major household item, largely unchanged from the previous month.
“Like businesses, consumers are feeling much more upbeat than six months ago, but they are hardly gung ho. That makes sense, given the unemployment rate is likely yet to top out,” ANZ Chief Economist Sharon Zollner said in a statement.
(Reporting by Renju Jose in Sydney; Editing by Chris Reese)
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