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New Zealand's confidence slips on low milk payout
The falling dairy payout is knocking consumer confidence, and cheaper petrol prices and lower mortgage rates have not been enough to offset those jitters. Consumer confidence continues to slide from its peaks earlier in the year and is down to its lowest level since March last year. The Westpac McDermott Miller Consumer Confidence Index fell to 114.8 in the December quarter, down from 116.7 in September. An index above 100 shows optimists outnumber pessimists. "Consumer confidence has continued to slide, particularly in rural and provincial New Zealand," Westpac Chief Economist Dominick Stephens said. "Clearly, ... (full story)