A big majority of New Zealanders have lost confidence in the economy, according to a new poll.The Consumer Comfort Index (CCI) has been pushed down by faltering economic perceptions, with 68 percent of New Zealanders saying the economy is either 'poor' or
A big majority of New Zealanders have lost confidence in the economy, according to a new poll.
The Consumer Comfort Index (CCI) has been pushed down by faltering economic perceptions, with 68 percent of New Zealanders saying the economy is either 'poor' or 'not so good', up 16 percent since June.
The new poll, by UMR Research, found only three people in 1000 think the economy is excellent while 31 percent believe things are going well.
The CCI calculates consumer comfort based on how people feel about the economy now and how they rate their ability to buy things they want and need. Because of the poll, the CCI has slipped to minus 14 compared with minus 1 in June.
"There was a lot of optimism around in June and a feeling that things were getting better. But when that hasn't happened and there are very bad unemployment numbers which have struck home with people," research director Gavin White told NZPA.
The biggest issues on people's minds were unemployment and general cost of living increases, Mr White said.
Since June there has been little or no change in perceptions of personal finances and the buying climate, with 58 percent rating their personal finances as either 'excellent' or 'good' and 40 percent thinking that it was a good time to buy things they wanted.
The poll, which took place before the Canterbury earthquake and the bail out of South Canterbury Finance, surveyed 1000 people aged 18 and over and has a margin of error of plus or minus 3.1 percent .
"It's hard to say what impact the quake could have and often there does seem to be a tendency for people to band together in these situations which can lead to a bit more optimism," Mr White said.
