Consumer confidence dropped sharply in December and is now below average levels, the Westpac McDermott Miller consumer confidence index says this morning. The drop in confidence appears to be partly a response to the change in Government. The biggest drop in confidence was among better households. The survey showed households were concerned about the general economic environment and their personal financial situation. Against the changing backdrop, it was not surprising many households were apprehensive about how the economic environment would shape up over the next few years, he said.

Source: Otago Daily Times December 18, 2017 21:00 UTC