NZ data points to patchy outlook, rate cut bet

New Zealand’s consumer confidence and manufacturing data recovered from weak levels as job advertisements showed further weakness, pointing to a prolonged period of patchy activity and keeping the prospects for an interest rate cut alive.

The ANZ-Roy Morgan consumer confidence index edged up to 114.1 from 110.5 the month before, the first bounce in three months, an ANZ survey showed, as households kept a firm hold on spending amid a weak labour market.

A reading above 100 shows optimism while a reading below indicates pessimism.

via Business feed http://www.scmp.com/business/economy/article/1082918/nz-data-points-patchy-outlook-rate-cut-bet