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NZ consumer confidence falls in May - survey
May 23, 2014 / 1:06 AM / 3 years ago

NZ consumer confidence falls in May - survey

WELLINGTON, May 23 (Reuters) - New Zealand consumer confidence fell to a six-month low in May, a survey showed on Friday, with consumers more cautious as the central bank raised rates to contain inflation in a strongly growing economy.

The ANZ-Roy Morgan consumer confidence index was 127.6 from 133.5 in April. It hit a seven-year high of 135.8 in January.

A reading above 100 shows optimism, while below 100 indicates pessimism.

The survey showed consumers were less optimistic about their own financial positions, as well as the near- and longer-term economic outlooks.

Expectations of consumer price inflation eased a shade, with prices seen rising 3.1 percent over the next two years - the lowest in nearly two years - from 3.2 percent in the previous survey. (Reporting by Gyles Beckford; Editing by Paul Tait)

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