RTTNews - New Zealand's consumer confidence increased slightly in mid-July, as consumers became more confident about both the short and long term future of the economy, a survey by Roy Morgan showed Monday.

The consumer confidence rating rose 1.7 points to 107.8, the highest level since mid-September 2008, the survey said. Compared to the same period a year ago, the rating is 22.1 points higher.

Consumers are now less worried about the economic conditions in the country as a whole, with 31% of respondents expecting 'good' times over the next 12 months, which is the highest proportion since September 2008. Moreover, the proportion expecting 'bad' times ahead decreased to 41% , which is the lowest since September last year.

At the same time, more respondents expect to be better off financially in the next one year, with more people also saying it was a good time to buy major household items.

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