April 21, 2017 / 1:36 AM / 8 months ago

New Zealand consumer confidence drops in April: ANZ Bank

WELLINGTON (Reuters) - Consumer confidence in New Zealand slipped to a seven-month low in April as sentiment in the nation’s commercial capital Auckland was dented by slowing house prices, a survey showed on Friday.

The ANZ-Roy Morgan consumer confidence index fell to 121.7 from 125.2 in the previous month. A reading above 100 shows optimism, while below that indicates pessimism.

ANZ flagged a slow down in the property market in previously red-hot Auckland as the main cause behind the fall, but said the index remained historically high.

Reporting by Charlotte Greenfield; Editing by Shri Navaratnam

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