New Zealand consumer confidence drops in April: ANZ Bank
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People buy fruits at a fruit and vegetable market in front of the Te Papa Museum in Wellington October 2, 2011. REUTERS/Jacky Naegelen
WELLINGTON (Reuters) - Consumer confidence in New Zealand slipped to a seven-month low in April as sentiment in the nation's commercial capital Auckland was dented by slowing house prices, a survey showed on Friday.
The ANZ-Roy Morgan consumer confidence index fell to 121.7 from 125.2 in the previous month. A reading above 100 shows optimism, while below that indicates pessimism.
ANZ flagged a slow down in the property market in previously red-hot Auckland as the main cause behind the fall, but said the index remained historically high.
(Reporting by Charlotte Greenfield; Editing by Shri Navaratnam)
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