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New Zealand Consumer Confidence Eases Slightly in August, ANZ Says

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The ANZ-Roy Morgan Consumer Confidence index for New Zealand eased by one point in August to 98, still under par but 18 points higher than a low struck in April, ANZ Research said in a Friday report.

The result came as the net proportion of households who think it's a good time to purchase a major household item fell 5 points to minus 12, indicating continued struggles for retail.

The current conditions index eased to 83.4 from 88.5 in the previous month, while the future conditions index rose marginally to 107.7 from 106.5.

Following some improvement in July, perceptions of current personal financial situations compared with a year earlier gave up much of their gains with a decline to negative 21% from negative 16%.

"Petrol prices averaged a higher level than in July, having jumped in the last week of the previous month, and that may have impacted perceptions of current financial situations," ANZ said.

Additionally, the report showed inflation expectations for two years ahead remaining relatively stable at 4.7%, while house price expectations eased to 2.5% from 2.6%.

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