Consumer confidence dropped further in July, falling back to long-run averages.
New Zealand consumer confidence declined broadly in the June quarter as the pace of the country’s economic growth cooled along with the housing market, while fuel prices rose, according to the latest Westpac McDermott Miller consumer confidence survey.
New Zealand consumer confidence held steady in May at levels slightly above the historical average.
The introduction of Auckland's Unitary Plan and a long-hoped-for surge in housing supply faces the prospect of yet more delay after around 100 appeals were lodged against the plan in the Environment Court and the High Court by Friday afternoon's deadline. The appeals included many from heavy hitters with significant legal budgets and years of experience in challenging planning legislation through the Environment and High Courts.
For the convenience of email-avoiding subscribers and samplers, here's the email sent earlier on Friday.
Consumers are the most optimistic they've been in nine years, but the Reserve Bank's high LVR policy and warnings about higher interest rates next year mean they're less likely to buy a big-ticket item or spend a cash windfall than they were earlier in 2013, a new survey shows.
Economic confidence hit a record high in BNZ's survey, the Commerce Commission forced Baycorp to repay millions in repossession fees and TSB Bank signed up for NZ Post's RealMe online identity service.