New Zealand consumer confidence hits highest level in four years

SYDNEY, Dec ⁠19 (Reuters) - Consumer ⁠confidence ‍in New Zealand rose in December to its ‍highest level in more than ​four years, with card spending data ​showing a lift in discretionary spending, ANZ-Roy Morgan data showed on Friday.

The consumer confidence ​index jumped to 101.5 in December from 98.4 in ​November. A reading above 100 shows optimism, ‌while below that indicates pessimism.

ANZ Chief Economist Sharon Zollner said ​in a statement ⁠that mortgage holders were more keen to spend ‌as interest rates had cycled.

"It will be interesting to see in ‌January whether the recent change in direction ‌in interest rates affects this sentiment, or whether the (central bank governor's) reassuring ‍words about interest rates staying low for a considerable ⁠period ... see willingness to spend continue to lift," Zollner said.

(Reporting by Renju Jose in Sydney; Editing by Franklin Paul)

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• Funeral held for Australian Indigenous girl whose death sparked outback riots
• Amazon reinstates binding arbitration, bars class-action lawsuits
• Exclusive-Anthropic IPO valuation hinges on $190-200 billion 2028 revenue forecast, sources say