New Zealand consumers' confidence in the financial markets has dropped to 57% in 2024, down from 68% in 2023, according to a survey by the Financial Markets Authority (FMA) published Monday.

The inaugural annual FMA Consumer Confidence Survey combines past questions from the investor confidence survey and KiwiSaver statement survey with new insights on fairness and scams.

The survey finds generally positive sentiment among New Zealanders about their interactions with and understanding of financial markets.

Three quarters of New Zealanders believe financial service providers treat customers fairly, with banking and KiwiSaver providers rated more favorably than insurance companies, the survey added.

Confidence is strongest among those with positive financial circumstances but lower among those struggling to save.

The survey also highlighted disparities in confidence levels, particularly among women, Maori, Pacific Peoples, and those of low socio-economic status.