An index measuring consumer confidence in New Zealand dipped marginally in March, the latest survey released by ANZ Bank and Roy Morgan showed Friday.
The ANZ-Roy Morgan consumer confidence index dropped to 118.0 in March from 119.7 in the previous month. However, it was in line with the historical average.
A reading above 100 indicates optimism, while below that shows pessimism.
"Sentiment has been oscillating in a reasonably narrow range over the past six months after coming out of a chocolate dip - another sign the economy is still in reasonable nick," ANZ chief economist Cameron Bagrie, said.
The index of current conditions decreased 3 points to 120.8 in March. Nonetheless, that's still above the historical average of 115. Similarly, the future conditions index fell to 116.2 from 116.7.
Consumers' expectations about the economy's prospects over the year ahead worsened to 3 in March from 8 in the preceding month. At the same time, their own financial expectations over the next twelve months improved from 27 to 29.
General inflation expectations fell to an 11-month low to 2.9 percent in March. Meanwhile, nationwide house price expectations picked up to 4.4 percent from 4.1 percent a month ago.
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