Signs Of Green Shoots Recovery?

For Immediate Release
7 September 2009

Signs Of Green Shoots Recovery?

New Zealanders’ concern about the impact of the global economic crises is easing and over one-third of us think the worst of the recession is over.

These are findings from UMR Research’s most recent survey which has been tracking public attitudes to the global financial crisis since late last year.

There has been a sharp fall in levels of concern about the impact of the international economic crisis on the New Zealand economy since June.

“In June, 72% were concerned about the impact on our economy, but that had dropped to 61% by late August, the lowest level of concern since October last year,” a UMR Executive Director Tim Grafton said.

“Concern about the impact of the crisis on people’s standard of living has fallen too from 54% in June to 48% a week or so ago. This is also the lowest level of concern since October last year,” he said.

Over one-third (36%) of New Zealanders think the worst of the recession is over.

“Although these are optimistic signs that confidence is slowly returning, half of us (51%) disagree that the worst is over. The situation is still fragile and signs of recovery should be treated cautiously,” he said.

About half the adult population has cut back spending on consumer goods, clothes and fashion, eating out, entertainment and holidays as a result of the crisis.

UMR’s fortnightly telephone poll randomly samples n=750 New Zealanders aged 18 years and over. It has a margin of error of +3.6%. The survey on the economic outlook was conducted between 27-30 August 2009.

ENDS

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