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SaltWire's Atlantic regional weather forecast for October 26, 2023 | SaltWireSYDNEY - Consumer confidence in New Zealand rose in October but more remained wary about purchasing major household items, the best retail indicator, ANZ-Roy Morgan data showed on Friday.
The consumer confidence index rose to 88.1 in October from 86.4 in September. A reading above 100 shows optimism, while below that indicates pessimism. A net 38% thought it was a bad time to buy a major household item, a 6-point drop from the previous month. "The level remains very weak, consistent with ongoing softness in per capita retail spending," ANZ Chief Economist Sharon Zollner said in a statement."Those paying off a mortgage continue to be more cautious about spending than those who are not, understandably."
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