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Yahoo! My Yahoo! Mail More Yahoo! Services Account Options New User? Sign Up Sign In Help Yahoo! Search web search Home Singapore Asia Pacific World Business Entertainment Sports Technology Singapore Asia Pacific World NZ consumer confidence off highs in Feb - survey Reuters - Thursday, February 18 Send IM Story Print WELLINGTON, Feb 18 - New Zealand consumer confidence retreated from a three-year high in February, a survey showed on Thursday, with respondents more cautious in the face of rising unemployment and a slowing housing market. The ANZ-Roy Morgan Consumer confidence index fell 7.8 points to 123.6. A reading above 100 shows optimism, below it pessimism. Confidence in current conditions eased with a net 15 percent saying they were worse off than a year ago, up 13 percentage points on January. "The failure of current conditions to lift in a sustainable fashion is a clear pointer that the recovery process will be gradual and guarded," said ANZ-National chief economist Cameron Bagrie. The survey of 1,047 people showed that respondents were also less optimistic about both their own position and the overall economy in 12 months, and fewer believed it was a good time to buy a major household item. Respondents were asked a new question about inflation two years ahead, with expectations it will reach 3.8 percent. Last week, data showed retail sales rose less than expected in the fourth quarter while house sales hit an 18-year low, raising fresh doubts about the strength of the economic recovery. [ID:nSGE61A026] (Wellington newsroom tel 64 4 471 4234, fax +64 4 4736 212, wellington.newsroom@reuters.com) Recommend Send IM Story Print Related Articles BOJ Shirakawa:current price framework best for now Reuters - 49 minutes ago French firm to fully own Hong Kong's tramway AFP - 49 minutes ago Actelion bullish on 2010 as key drug defends market Reuters - 50 minutes ago Canada workers OK Brunswick zinc mine contract-Xstrata Reuters - 50 minutes ago India OIS rates slide amid low volumes; budget eyed Reuters - 53 minutes ago News Search Top Stories Dozens of primate species on the brink: study Astronomers find oldest stars outside Milky Way US probe launched into Toyota Corolla problems DNA reveals some mystery on King Tut, raises questions Lufthansa pilots vote for crippling strikes More Top Stories » ADVERTISEMENT Most Popular Most Viewed Most Recommended DNA reveals some mystery on King Tut, raises questions Scientists recreate Big Bang heat of 4 tln degrees C Astronomers find oldest stars outside Milky Way Lady Gaga scoops 3 awards at the Brits First footage of clouded leopard captured in Borneo More Most Viewed » Third-hand smoke also bad for you: study DNA reveals some mystery on King Tut, raises questions Pitt, Jolie sue British paper over split claims Fury heats up after new AIG bonuses Sugary soft drinks linked to pancreatic cancer: study More Most Recommended » Elsewhere on Yahoo! Financial news on Yahoo! Finance Stars and latest movies Best travel destinations More on Yahoo! News Home Singapore Asia Pacific World Business Entertainment Sports Technology Subscribe to our news feeds Top StoriesMy Yahoo!RSS » More news feeds | What are news feeds? Also on Yahoo Answers Groups Mail Messenger Mobile Travel Finance Movies Sports Games » All Yahoo! Services Site Highlights Singapore Full Coverage Most Popular Asia Entertainment Photos Copyright © 2010 Yahoo! Southeast Asia Pte. Ltd. (Co. Reg. No. 199700735D). All Rights Reserved. Terms of Service | Privacy Policy | Community | Intellectual Property Rights Policy | Help

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