New Zealand consumer confidence rises in Feb on positive outlook

Credit: REUTERS/Martin Hunter

SYDNEY, March 1 (Reuters) - Consumer confidence in New Zealand rose in February, driven by a lift in perceptions of future conditions, ANZ-Roy Morgan data showed on Friday.

The consumer confidence index rose to 94.5 in February from 93.6 in January. A reading above 100 shows optimism, while below that indicates pessimism.

The future conditions index made up of forward-looking questions rose 2 points to 101, while perceptions of current personal financial situations remained unchanged. A net 18% thought it was a bad time to buy a major household item.

"Household inflation expectations are well off their highs, but given the volatility, whether they are still trending downward is becoming a matter of conjecture. They are clearly still too high," ANZ Chief Economist Sharon Zollner said in a statement.

(Reporting by Renju Jose in Sydney;)

((renju.jose@thomsonreuters.com;))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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