NZ consumer confidence near 4-yr high in December - ANZ survey
WELLINGTON Dec 13 (Reuters) - New Zealand consumer confidence edged up to a near four year high in December, with a strongly growing economy boosting sentiment and pointing to a lift in spending, a survey showed on Friday.
The ANZ-Roy Morgan consumer confidence index rose to 129.4 from 128.4 in November. It was the highest reading since January 2010. A reading above 100 shows optimism, while below indicates pessimism.
The ANZ's composite growth indicator, which combines its business and consumer sentiment surveys, suggested growth of close to about 5 percent by early next year.
"That looks a stretch to us but it's nonetheless telling us something about the economic expansion we're in: it has real legs and further to run," said ANZ chief economist Cameron Bagrie.
The survey showed consumers still strongly feeling better off financially compared with a year ago, and more optimistic about the economic outlook in the next 12 months, and also over the next five years.
The number thinking it was a good time to buy a major household item jumped to a four month-high of 39 percent from 33 percent the previous month.
Expectations of consumer price inflation also rose, with prices seen rising 3.8 percent over the next two years from 3.2 percent in the previous survey.
(Gyles Beckford; Editing by Shri Navaratnam)
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