Outlook on economy better than January: Survey

Most people think financial hard times will worsen, a new survey shows.

However, results were more rosy than a few months ago.

UMR Research surveyed 750 adults on their views about the impact of the global financial crisis.

One in three thought its impact on New Zealand would worsen and 33 per cent said it would get a lot worse or lead to a depression.

Over half, 55 per cent, thought it would take more than a year before the economy improved with 41 per cent saying it would be sooner.

The views are better than a survey in January in which 92 per cent thought things would get worse with 41 per cent picking a lot worse or depression.

The biggest change since the January survey was increased concern about unemployment.

The figure who thought unemployment the most important issue rocketed from 3 to 19 per cent.

UMR director Tim Grafton said it had never been that high.

The economy remained the biggest issue - in December 43 per cent thought it the most important issue and now 37 per cent did.

More people cut back on spending - clothes and fashion spending, holidays and entertainment were the biggest casualties.

The telephone survey was conducted between April 2 and 14. It had an error margin of 3.6 per cent.

- NZPA