Recession May Be Over, But Pain Remains

Recession May Be Over, But Pain Remains

Despite the recession being officially over, most New Zealanders don’t think the economy is in good shape and consumer confidence remains weak.

Launching its new Consumer Comfort Index (CCI) today, UMR Research said almost half (45%) of New Zealanders said their personal financial situation was not good.

The CCI calculates consumer comfort based on how people feel about the economy now, their personal finances and how they rate their ability to buy the things they want and need. The fact that the CCI is at -18% shows that many New Zealanders are experiencing moderately high levels of discomfort, while some are experiencing significant pain.

However, the research shows that New Zealanders are nowhere near as negative about the current situation as their US counterparts - the US index sits at -49.

The New Zealand data is from UMR Research’s latest online survey of a nationally representative sample of 1,000 New Zealanders aged 18 years and over . UMR’s Consumer Comfort Index is based on the ABC News Consumer Comfort Index, which has been running in the US since 1985.

Other key findings include:

- 68% of New Zealanders think that our current economic conditions are not good or poor.

- 64% of New Zealanders think that it is not a good time to buy the things they want or need.

- 45% of New Zealanders describe their own personal financial situation as not good or poor.

ENDS

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