October 12, 2017 / 12:23 AM / 10 months ago

NZ consumer confidence dips in October-ANZ survey

WELLINGTON, Oct 12 (Reuters) - - Consumer confidence in New Zealand eased in October but remained near historically high levels, a survey by ANZ bank showed on Thursday.

The ANZ-Roy Morgan consumer confidence index fell to 126.3 from 129.9 in the previous month, the survey showed. A reading above 100 shows optimism, while below that indicates pessimism.

“History suggests consumers should be feeling a little spooked,” ANZ Senior Economist Sharon Zollner said.

“A sharply weaker housing market typically sees consumers’ appetite spending drop in tandem. Together with the uncertainty over government policy, one might think that consumers would be in a slightly grave mood.”

New Zealand’s election on Sept. 23 was inconclusive and coalition talks to form a new government are ongoing. (Reporting by Ana Nicolaci da Costa; Editing by Sam Holmes)

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