(Reuters) – Consumer confidence in New Zealand fell in November compared with the prior month amid soaring inflation, rising rates and falling house prices, ANZ-Roy Morgan data showed on Friday.
The consumer confidence index slid 5 points to 80.7 in November, its lowest level since June. A reading above 100 shows optimism, while below that indicates pessimism.
A net 31% of households think it is a bad time to buy a major household item, falling 9 points to the lowest level since COVID-19 first hit, while inflation expectations lifted to 5.3% from 5.0% last month, the survey showed.
(Reporting by Renju Jose in Sydney; Editing by Josie Kao)
