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