Canterbury consumer confidence dips

hand picks success puzzle as conceptConsumer confidence fell slightly in October, with a figure of 1.8 on the ASB Cantometer Index.

This was down from September’s record high of 1.9.

“The slight dip in October’s Cantometer is due to a decline in consumer confidence in the region, which is now at levels below those seen before the earthquakes,” Nick Tuffley, ASB’s chief economist said.

All other activity indicators continue to paint a strong picture, with a rise in the construction sub-index a particular point of interest, he said.

Tuffley said that over the coming year construction growth, and in particular non-residential construction, would remain the key pillar in supporting Canterbury’s economic performance.

The retail trade indicator was 2.4 in October and September.

The consumer confidence index was in -0.1 in October, compared with 0.7 in September.

The consumer spending index was 1.2 in October, compared with 1.6 in September.


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