Westpac-McDermott Miller consumer confidence index for New Zealand in the October - December quarter has dropped to 75.6.
- prior, for Q3, was 87.6
75.6 is the lowest ever for this survey. The survey was first conducted in 1988.
NZ consumers are being pummelled by the rising cost of living and interest rates being hiked rapidly. Its not too different a story elsewhere.
---
The Westpac-McDermott Miller consumer confidence index:
- a reading above 100 indicates more optimists than pessimists
- a reading below 100 indicates more pessimists than optimists
----
RBNZ rate hikes so far:
