(Reporting by Renju Jose
Editing by Chris Reese)
SYDNEY, March 3 (Reuters) - Consumer confidence in New
Zealand fell in February compared with the prior month as
households grappled with higher living costs and rising interest
rates amid intense inflationary pressures, ANZ-Roy Morgan data
showed on Friday.
The consumer confidence index eased 3 points to 79.8 in
February. A reading above 100 shows optimism, while below that
indicates pessimism.
"More and more households will roll over onto markedly
higher mortgage rates as the year rolls on, creating challenges
for the retail and hospitality sectors," ANZ Chief Economist
Sharon Zollner said in a statement.
The proportion of people who believe it is a good time to
buy a major household item, a key retail indicator, fell 7
points to -35%, the lowest level since the lockdown in 2020 due
to the COVID-19 crisis.
Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.