New Zealand consumer confidence fell to 118.0 in March, down from 119.7 a month ago, according to ANZ (The Australia and New Zealand Banking Group). Consumer optimism regarding the short term economic outlook slipped to a five month low while the current conditions index fell to 120.8 in March. The lower optimism among consumers comes on the background of declines in global dairy trade and an increase in oil prices in New Zealand. In a separate report, New Zealand's job advertisements managed to grow at a moderate pace in February, recovering from the sharp declines in January. Job ads were up 0.90% in February on a seasonally adjusted basis, following -2.90% declines in January. Headwinds including the higher exchange rate and falling commodity prices continue to put pressure on the country’s economic momentum.
S&P 500 Index Erases February Losses
Daily Analysis - 21/03/2016