Consumer confidence in New Zealand increased in June, beginning to recover after dipping the previous month, and expectations of higher inflation also rose, a survey showed, Yahoo reported. The ANZ-Roy Morgan consumer confidence index edged up to 118.9 from 116.2 in the previous month. A reading above 100 shows optimism, while below that indicates pessimism. Expectations for consumer price inflation over the next two years rose to 3.8% from 3.3% in the previous survey. “The New Zealand economy is chugging along pretty well, despite clear strains in the dairy sector and the unease offshore,” Australia & New Zealand Bank chief economist Cameron Bagrie said.
