Economic weather report: Consumer confidence weakens

Consumer confidence weakened slightly in the March quarter from the December quarter and consumers remain "deeply pessimistic" about their own personal finances as petrol prices rose, interest rates rose and the housing market softened, the Westpac McDermott Miller survey shows.

The survey also asked what New Zealanders thought about potential tax changes that may be announced in the May 20 budget, including a possible GST increase, personal tax cuts and property tax changes. It found an equal number overall who thought it would be good or bad, while older and poorer respondents were most worried about losing from any changes because of either the GST increase or property tax changes.

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• weather
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[waldentree]

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[bookbinder66]

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