Fourth quarter consumer confidence data from Westpac
- Highest since Q1 2018
- Prior was 103.1 -- seven-year low
- Expected conditions 109.8 vs 101.0 prior
- Present conditions 110.1 vs 106.4 prior
- Westpac says increase follows a drop in mortgage rates
This is another good sign that rates have bottomed in New Zealand but we will need to see hard data pickup early in 2020 to get a sense of whether this is stabilization at a weak level or the start of a rebound.
