NZ Consumer confidence deteriorates in June

FXStreet (Mumbai) - Consumer confidence took another large blow in New Zealand in June, adding to signs that policymakers need to ease policy further to support demand as the economy slows.

The ANZ-Roy Morgan Consumer Confidence index fell to 119.9 in June from 123.9 in May, where a figure above 100 indicates that the majority of consumers are happy, while a reading below 100 indicates pessimism.

The decline in confidence was led by a sharp drop in one-year ahead expectations for the economy, which fell to the lowest level in over two years, with only a net 11% optimistic, down from 21% last month.