Consumers feeling comfortable financially - survey

More consumers say that now is a good time to buy things they need. Photo / Hawkes Bay Today

Consumers are feeling more comfortable about the economy and their personal finances than they were in February, a poll by UMR Research has found.

The Consumer Comfort Index (CCI), carried out last month, found 48 per cent of 1100 New Zealanders surveyed believed the economy was either excellent or good, up from 32 per cent in February and 37 per cent in April.

As a result, the index improved to minus 1 per cent, compared with minus 18 per cent in February and minus 12 per cent in April.

The CCI was based on how people felt about the economy and their personal finances, and how they rated their ability to buy the things they wanted and needed.

The latest result meant the number of respondents feeling negative about financial aspects of their lives only just outnumbered those feeling positive, UMR said.

The US CCI currently sat at minus 43 per cent, compared with minus 49 per cent in February.

Asked about their personal finances, 58 per cent of respondents rated them as either excellent or good, up three percentage points since February.

Forty-one per cent said now was a good time to buy the things they wanted and needed, up six percentage points since February.

Respondents across the country were more positive, with Auckland's CCI now at plus 1 per cent, up from minus 19 per cent in February, and Christchurch now at plus 2 per cent, up from minus 9 per cent.

Wellington consumer comfort leapt from minus 18 per cent in February to plus 7 per cent now.

The rest of the North Island was at minus 4 per cent, up from minus 22 per cent, and the rest of the South Island was now on minus 9 per cent, up from minus 16 per cent.

Men were more positive than women, at plus 7 per cent (up from minus 14 per cent in Feburary), and women at minus 8 per cent (up from minus 22 per cent).

The poll of 1100 people was carried out June 16-22 and had a margin of error of plus or minus 2.95 per cent.

- NZPA