Economic Perceptions Hit

Economic Perceptions Hit

Faltering economic perceptions have pushed the Consumer Comfort Index (CCI) back down, according to a new poll released by UMR Research. 68% of New Zealanders now say that the economy at the moment is either ‘poor’ or ‘not so good’, up 16% since June.

Just 3 in 1000 (0.3%) New Zealanders think that the economy is excellent, while 31% believe that it is good. The total saying it is excellent or good is 17% down on the June result.

As a result, the CCI has slipped back to -14, compared with -1 in June. 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 buying climate). By comparison, the US index sits at -45 (compared with -43 in June).

There has been little change in perceptions of personal finances and the buying climate.

- 58% now rate their personal finances as either ‘excellent’ or ‘good’ (unchanged since June)

- 40% think that now is a good time to buy the things they want and need (down 1% since June).

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 . All fieldwork took place before the Canterbury earthquake, and the bulk of it was before the government’s bail out of depositors in South Canterbury Finance.

UMR’s Consumer Comfort Index is based on the ABC News Consumer Comfort Index, which has been running in the US since 1985.

ENDS

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