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New Zealand Consumer Confidence Gains Momentum in June, Says ANZ Research

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Consumer confidence in New Zealand gained spirit in June, returning to levels seen in March but still below its January peak, ANZ Research said Friday.

According to the ANZ-Roy Morgan index, consumer confidence rose 4 points to 91.3 in June as fuel prices declined and geopolitical uncertainties eased. This was still 16 points lower than January.

The net proportion of households thinking it's a good time to buy a major household items, a retail indicator, jumped 9 points to negative 11.

Inflation expectations fell to 4.6% from 5.3%, also reverting back to the levels from before the March oil spike. House price expectations held steady at 2.5%.

"Confidence has now regained almost half its fall, with both the current-situation and forward-looking indices now 11 points off their lows," the firm commented.

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