New Zealand consumer confidence slips in November — ANZ-Roy Morgan

FILE PHOTO: Shoppers are seen at a mall in Wellington, New Zealand July 16, 2020. Picture taken July 16, 2020. REUTERS/Praveen Menon

(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.

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