New Zealand consumer confidence plunges to lowest in three years
RNZ reports that consumer confidence in New Zealand fell sharply last quarter, hitting its lowest level in three years. High fuel and energy costs squeezing household budgets are the main driver, the survey shows. This is not investment advice.
According to RNZ, New Zealand's consumer confidence index fell sharply last quarter to its lowest reading in three years. The body running the survey said respondents' assessments of their own personal finances had deteriorated noticeably.
High fuel and energy costs continue to squeeze household budgets. The survey shows consumers expect to defer larger purchases, with marked pullback in plans for durable goods and travel. Retailers report softer demand in the discretionary categories that depend most on confidence.
The Reserve Bank of New Zealand is monitoring growth signals closely while keeping inflation pressures in check. A cooling housing market and weaker retail print will also feed into the government's fiscal planning ahead of the September budget. This is not investment advice.
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