New Zealand Consumer Confidence Slows In Q3



Consumer confidence in New Zealand took a bit of a hit in the third quarter of 2014, the latest survey from Westpac Bank revealed on Monday, with an index score of 116.7. That's down from 121.2 in the second quarter, although it remains comfortably above the line of 100 that separates optimism from pessimism. The Reserve Bank of New Zealand's decision to hike its benchmark Official Cash Rate is seen as the catalyst for lagging confidence, the survey suggested. Among the individual components of the survey, the index for present conditions fell from 116.8 to 113.0, while the outlook dipped from 124.1 to 119.3.


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