New Zealand – ANZ consumer confidence index for June: +3.4 (prior was a -4.4%)

ANZ consumer confidence index for June,+3.4% to 131.9

• prior was a -4.4% to 127.6

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ANZ like it, very much (bolding mine):

• Consumer sentiment remains elevated and recovered previously lost ground in June.
• That’s an incredibly healthy sign; amidst rising interest rates there are wider influences that are supporting confidence.
• We never want to read too much into one month of data. However, we’re in an environment where interest rates have moved up – with expectations of more rises to come. Seeing consumer confidence looking resilient – or indeed, at these levels we’d say outright strong – is testament to the wider array of influences that can, and do, impact on sentiment. Even checking for seasonality reveals no distortions in the headline figure; sentiment is very solid under the bonnet.