Consumer confidence at 11-year low - could be worse: Westpac

Consumer confidence at 11-year low - could be worse: Westpac
Rebecca Howard
Consumer confidence hit its lowest level since 2009 in the June quarter but the decline was moderate compared to other downturns. “This relative resilience in consumer confidence adds to other signs that the economic fallout from covid-19 may not be quite as severe as we first feared,” said Westpac New Zealand chief economist Dominick Stephens. The Westpac McDermott-Miller consumer confidence index fell 7 points in June, taking it to 97.2, the lowest level since the global financial crisis. The present conditions index fell 9.3 points to...

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