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NZ Consumer confidence could catch business chill - Infometrics
There's growing risk that consumer confidence will follow business confidence lower, as economic conditions worsen, warns Infometrics. In its latest quarterly outlook the independent economics group has revised down its growth path for the New Zealand economy. "Households could go into their shells over the next year as economic conditions worsen, with little to support spending growth in the near-term," Infometrics says in its latest forecasts. "The stagnating labour market and the potential for house prices to fall both threaten to drag consumer confidence further below its long-term average."