New Zealand consumer sentiment ticked up in the June quarter, though it remains deeply pessimistic by historical standards, according to the latest Westpac-McDermott Miller survey.
The consumer confidence index rose to 91.2, up from 89.2 in the March quarter. While the small improvement reverses some of the sharp Q1 drop, the index remains well below the neutral 100 level that separates optimism from pessimism.
Westpac noted the gain as “a fairly modest rise,” highlighting ongoing uncertainty weighing on households. “It’s been a bumpy and uncertain few months,” the report said. “And against that backdrop, New Zealand households have remained nervous about the economic outlook.”
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