11 Nov 2011

Consumer confidence easing

7:15 pm on 11 November 2011

Consumer confidence has eased for the third consecutive month.

The ANZ-Roy Morgan Consumer Confidence index fell 3 points to 109 points in November. A reading above 100 shows optimism.

November's result is the lowest since May.

ANZ head of market economics Khoon Goh says consumers remain cautious and are not getting carried away by the Rugby World Cup win.

The survey showed respondents are less optimistic about the current outlook, but their five-year outlook remains steady.

Mr Goh says the global turmoil and lack of strong domestic economic momentum is clearly starting to test the relative resilience seen in New Zealand so far, and retailers may struggle during the important Christmas period.