March 16, 2020 / 8:04 PM / in 13 days

New Zealand consumer confidence dips to 104.2 in Q1

WELLINGTON, Mar 17 (Reuters) - Consumer confidence in New Zealand fell in the first quarter as the country wrestles with the twin headwinds of coronavirus and drought, a survey showed on Tuesday.

The Westpac-McDermott Miller consumer confidence index fell to 104.2 from 109.9 in the previous quarter. A reading above 100 indicates more optimists than pessimists.

The survey indicated that New Zealand households are worried about where the economy is heading, and that is weighing on their plans for spending. (Reporting by Praveen Menon; Editing by Sandra Maler)

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