Kiwis optimistic about riding out recession - survey

New Zealanders are optimistic about riding out the recession but less confident about their personal finances.

The latest M&C Saatchi's international survey of consumer attitudes towards economic downturn, shows only 27 per cent of New Zealanders have a negative outlook on the current economic climate. Chief executive Nick Baylis says that compares to 64 per cent of Britons and 33 per cent of Australians.

However, only 41 per cent of New Zealanders felt optimistic about their personal finances, compared with 59 per cent in the last study.

The Australian Government's stimulus package seems to have had a positive impact on Australian attitudes toward their personal finances with 47 per cent of respondents feeling more optimistic about their own financial situation, an eight per cent increase from six months ago.

Baylis says the survey's researchers have been trying to figure out why New Zealanders are relatively optimistic about the current recession. He suggests it is because they value relationships over returns and people over possessions.

The survey was released as another company announced layoffs. Southland-based boat building firm Stabicraft Marine had to tell 13 staff they no longer had jobs yesterday. Last week timber workers at Blue Mountain Lumber Mill in west Otago and Clifton Wool Scour in Invercargill made redundancies.

- Newstalk ZB