19 May 2016

Consumer confidence dips slightly

4:34 pm on 19 May 2016

Consumer confidence has eased slightly to its lowest level in seven months, with higher petrol prices and concerns about the property market.

The ANZ-Roy Morgan Consumer Confidence Index has fallen slightly with consumers less optimistic about their own financial health and the longer-term outlook.

ANZ chief economist Cameron Bagrie said the survey suggested consumers were still in a good mood because the economy was still performing relatively strongly.

He said the rise in fuel prices and nervousness about the housing market had probably made consumers a little less secure.

However, Mr Bagrie said more consumers were expecting house prices to keep rising, which was underpinning confidence of home owners.

The survey also shows Wellington consumers overtaking Auckland to be the most confident in the country, with the least confident in the South Island outside Canterbury.

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