New Zealand consumers are pretty negative about their current
economic circumstances, but at least feel more positive than
their counterparts in the United States, according to a
survey released today.
The UMR Consumer Confidence index sits at minus 18 percent,
indicating that New Zealanders are not comfortable with the
current economic climate.
Respondents were asked their views on the national economy,
personal finances and whether it was a good time to make
purchases based on cost and personal finances.
While negative, they were more cheery than American consumers
who had a comfort index of minus 49 percent.
The consumer comfort index shows how people feel about their
current circumstances, compared with consumer confidence
surveys which forecast economic expectations.
Two-thirds of New Zealanders believed now was not a good time
to buy things they wanted or needed, reflecting negativity
about the cost of living and people's ability to spend, UMR
said.
Unsurprisingly, people on low incomes were more negative than
those on personal incomes over $70,000.
People in the North Island outside the two main centres were
most uncomfortable, while Christchurch residents were fairly
positive.
Maori, Pacific and Asian respondents felt particularly
negative.
The survey of 1000 people was conducted over seven days last
month, and has a margin of error plus or minus 3.1 percent.
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