Consumer confidence in New Zealand slipped again in the third quarter and is languishing at levels last seen during the financial crisis in 2008, a survey showed on Tuesday.
The Westpac-McDermott Miller consumer confidence index dropped to 95.1, continuing its slide after falling to 97.2 in the previous quarter. A reading above 100 indicates more optimists than pessimists.
The survey indicated that increasing number of households are reporting their financial positions deteriorated in the wake of COVID-19. Low levels of confidence are weighing on spending appetites, it said.
(Reporting by Praveen Menon; Editing by Sandra Maler)
