May 31, 2018 / 10:12 PM / a year ago

New Zealand consumer confidence edges up in May -ANZ survey

WELLINGTON, June 1 (Reuters) - Consumer confidence in New Zealand inched up in May, after a sharp dip the previous month, a private survey showed on Friday.

The ANZ-Roy Morgan consumer confidence index rose to 121.0 after dropping 7.5 points to 120.5 in the previous month. A reading above 100 shows optimism, while below that indicates pessimism.

“Perceptions of current conditions are strong, but there is a degree of wariness about the future,” said Sharon Zollner, chief economist at ANZ Bank.

Expectations for consumer price inflation over the next two years eased slightly to 3.9 percent from 4 percent in the previous survey. (Reporting by Charlotte Greenfield and John Mair)

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