WELLINGTON, June 27 (Reuters) - Consumer confidence in New Zealand rose in June, although several components remain subdued and the index remains pessimistic, ANZ-Roy Morgan data showed on Friday.
The consumer confidence index rose to 98.8 in June from 92.9 in May. A reading above 100 shows optimism, while below that indicates pessimism.
"The economy is recovering; it’s just taking a little longer than expected,” said ANZ chief economist Sharon Zollner.
"More people are rolling off onto a lower mortgage rate, and relief is coming. Unemployment is close to a peak, and things should start to improve on that front," she added
(Reporting by Lucy Craymer; Editing by Leslie Adler)
((Lucy.Craymer@thomsonreuters.com [Lucy.Craymer@thomsonreuters.com];))
