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Reuters

New Zealand consumer confidence rebounds in fourth quarter

FILE PHOTO: Shoppers walk past and stand outside a retail store displaying a sales sign in central Wellington, New Zealand, July 3, 2017. REUTERS/David Gray

Consumer confidence in New Zealand rebounded in the fourth quarter after falling sharply in the wake of the

COVID-19 outbreak in the previous quarter, a survey showed on Tuesday.

The Westpac-McDermott Miller consumer confidence index rose to 106.0 from 95.1 in the previous quarter. A reading above 100 indicates more optimists than pessimists.

The survey indicated that with the recovery in activity gaining traction, New Zealand households are feeling more

upbeat about the economic outlook and spending appetites has picked up.

(Reporting by Praveen Menon)

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