Voters remain gloomy on economic front

New Zealand voters remained pessimistic about the country's economy in February, with an opinion poll showing just 20 per cent of respondents expect the economy to improve over the next 12 months.

The results was down from 21 per cent in December's One News Colmar-Brunton poll and marked the lowest level since the poll began in 1995.

Those expecting a deterioration remained stable at 55 per cent, 27 percentage points above the poll taken before the September 17 general election.

Since the previous poll, Finance Minister Michael Cullen has warned the economy was slowing down, in line with official and analysts' forecasts.

A string of weaker-than-expected data in retail sales and employment has raised the prospect of a contraction in the fourth quarter.

The poll of 1200 New Zealanders has a 2.8 per cent margin of error.

Support for the government's performance, led by the Labour Party in its third successive term in power, rose one point from the last poll to 48 per cent, while disapproval fell two points to 36 per cent.

Labour also closed the gap in party support on the main opposition, the centre-right National Party, to just three points. Labour increased its party support to 42 per cent of electors, up from 37 per cent in December, while National's support fell by one point to 45 per cent.

- REUTERS