New Zealand consumer confidence picked up in the third quarter while staying below its long-run average, as Kiwis, particularly in rural communities, remain nervous about the economy’s trajectory.
The Westpac McDermott Miller consumer confidence index rose two points to 108 in the September quarter, below the long-run average of 111.5. A reading above 100 indicates optimists outnumber pessimists. The present conditions index fell 0.8 points to 109.2, while the expected conditions index gained 3.9 points to 107.2.
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