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Decline in consumer confidence

Author
Alexia Russell,
Publish Date
Mon, 22 Dec 2014, 11:19AM
Photo: Getty Images
Photo: Getty Images

Decline in consumer confidence

Author
Alexia Russell,
Publish Date
Mon, 22 Dec 2014, 11:19AM

UPDATED 11.46am: Consumer confidence continues to decline.

Figures out from Westpac today show the December quarter slid and is now at its lowest since March last year.

Rural and provincial New Zealand are particularly affected - with prospects for a low dairy payout this season taking their toll.

While economists aren't surprised that rural residents are worried about the prospects of a low dairy payout this season, they're not so sure why city residents are also glum.

Westpac chief economist Dominick Stephens:

"I would've expected city residents to respond to falling petrol prices and falling mortgage rates.

"It hasn't happened on this occasion."

Stephens says that might filter through in the new year.

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