2 Mar 2018

Consumers regain confidence after election 'soft spot'

6:02 pm on 2 March 2018

Consumer confidence has perked up to its highest level in five months as a strong labour market buoyed optimism.

Christmas shopping in Wellington.

The survey showed slightly fewer people believed it was a good time to buy a big-ticket item. Photo: RNZ / Rebekah Parsons-King

The ANZ-Roy Morgan monthly consumer confidence index edged up a point as it further recovered from a soft spot after last year's election.

Consumers are generally upbeat about their current financial position and the medium-term outlook for the economy.

ANZ chief economist Sharon Zollner said the housing market looked to have found a base after easing, and that would help to reduce consumer nerves.

She said the solid labour market would also boost expectations of higher household incomes and support sentiment.

The survey showed slightly fewer people believed it was a good time to buy a big-ticket item.

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