16 Feb 2017

Consumer confidence holds steady in February

3:32 pm on 16 February 2017

Consumer confidence is holding steady, which points to a solid reading for the New Zealand economy.

The ANZ-Roy Morgan Consumer Confidence Index eased about a point to 127.4 in February compared with the previous month.

A reading over 100 indicates optimists outnumber pessimists.

The survey shows a net 15 percent feel better-off financially compared with a year ago, which is the highest level in about a decade.

And consumers remain confident to open their wallets and buy a major household item.

ANZ chief economist Cameron Bagrie said its business and consumer surveys suggested economic growth of around 4 percent in the coming year, but that would be a big ask.

"As we see credit growth slow over 2017 and the property market ease a little bit and of course firms finding it a little bit more difficult to find skilled labour, [then] yeah growth is going to slow," he said.

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