19 Aug 2010

Consumer confidence edges up

5:18 pm on 19 August 2010

Consumers have become slightly more confident.

The latest ANZ Roy Morgan Consumer Confidence index rose 0.7 points to 116.3 points in August.

A reading over 100 indicates that optimists outnumber pessimists, and while August's index remains positive it is well below the historical average and close to the lowest reading in almost a year.

The survey shows fewer people are feeling financially better off compared to a year ago, but an increasing number expect to be better off in 2011.

The number of people planning to buy a major household item also rose slightly.

Consumer sentiment rose in Auckland and Wellington, but fell in other parts of New Zealand.