Consumer confidence appears to be holding up, despite mounting concerns about the European debt crisis.
The ANZ Roy Morgan Consumer Confidence index was unchanged at 113.9 in May, compared to the previous month.
A reading over 100 indicates there are more optimists than pessimists.
ANZ chief economist Cameron Bagrie says while people feel more optimistic about the economic outlook, many still feel worse off than they did a year ago.
He says given the news out of Europe and the fact that in New Zealand the unemployment rate has moved back up, the fact that consumer confidence is flatlining in that environment is quite encouraging.
