New Zealand consumer confidence in December reaches highest level in four years

ANZ Bank - Data released by Roy Morgan on Friday shows that consumer confidence in New Zealand rose to its highest level in over four years in December, with credit card expenditure indicating an increase in non-essential spending. The December consumer confidence index jumped from 98.4 in November to 101.5. A reading above 100 indicates optimism, while below 100 represents pessimism. ANZ Bank's chief economist Sharon Zollner said in a statement that mortgage holders are more inclined to spend. Zollner said, "Whether recent interest rate trends will affect this sentiment, or comforting rhetoric about rates remaining low for a considerable period of time will... continue to boost willingness to spend, will be an interesting point to watch in January."