17 Oct 2013

Consumer confidence remains elevated - survey

7:06 pm on 17 October 2013

Consumer confidence remains elevated with more New Zealanders feeling better off than a year ago.

The ANZ-Roy Morgan consumer confidence index has risen to 122.3 points up from 118.8 last month.

A reading above 100 shows optimism, while below indicates pessimism.

The survey shows consumers are more optimistic about the economic outlook in the next 12 months, and also for the next five years.

ANZ chief economist Cameron Bagrie says the increase in confidence shows consumers remain in a buoyant mood.

He says it suggests reasonable health across the economy and the consumer sector and it's consistent with a moderate amount of consumption expenditure going forward.