According to a survey, the consumer confidence of New Zealand was stronger in May, as the respondents felt more positive about both their own outlook and that of the economy. The ANZ-Roy Morgan Consumer confidence index escalated four points to 126, which was the third monthly increase, but it still lagging behind January's peak of 131.4.

A reading above 100 depicted optimism and a reading below indicated pessimism. As far as their own financial conditions are concerned, the respondents were less pessimistic about them, as net 5 percent shared that they were worse off than a year ago. Households were more positive about their own outlook over the next 12 months, with 40 percent expected an enhancement, which is up from 38 percent in April.

About 1,000 people were surveyed and it was found that respondents were more optimistic about the near- as well as long-term outlooks for the overall economy, and 21 percent opined that this is good time to buy major household items. The ANZ-National Bank said, "This slow but steady improvement augers well for a gradual improvement in prospects for the retailing sector in the months ahead".

Credit card billings slumped 1.2 percent in April on the previous month against a revised 1.4 percent gain in March, according to data from the RBNZ.