New Zealand consumer confidence falls as recession news hit - survey

Credit: REUTERS/Fiona Goodall

WELLINGTON, March 28 (Reuters) - Consumer confidence in New Zealand fell in March, ANZ-Roy Morgan data showed on Thursday, likely affected by recession headlines.

The consumer confidence index fell to 86.4 in March from 94.5 in February. A reading above 100 shows optimism, while below that indicates pessimism.

A net 24% think it is a bad time to buy a major household item, down 6 percentage points, bringing to an end a steady run of improvement, ANZ said in a note.

"News that the economy re-entered recession in the second half of last year appears to have hit consumer confidence hard," ANZ Chief Economist Sharon Zollner said in a statement.

(Reporting by Lucy Craymer; editing by Jonathan Oatis)


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