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Consumers regain festive spirit as confidence rebounds

Consumers regain festive spirit as confidence rebounds 14 Dec, 2020 09:30 PM 3 minutes to read Shoppers hit the streets in December as confidence rebounded. Photo / File Consumer confidence has rebounded sharply in December, according to the latest Westpac consumer confidence survey. New Zealand households have regained their festive spirit, said Westpac Senior economist Satish Ranchhod. The Westpac McDermott Miller Consumer Confidence Index rose 10.9 points in December to a level of 106. While that rise still leaves confidence a little below its long-run average, it has reversed the falls that we saw earlier in 2020 in the wake of the Covid-outbreak, Ranchhod said. Advertisement Notably, there has been a sharp rise in spending on dining out and entertainment, he said.

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