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The February NZ Roy Morgan Consumer Confidence Rating is down 3.3 points to 100.4. The NZ Roy Morgan Consumer Confidence Rating is now 17.4 points below the 117.8 it was in early February 2008.

The fall in the New Zealand Roy Morgan Consumer Confidence Rating has been driven by increasing numbers of New Zealanders worried about the economic conditions in the country.

New Zealanders are expecting tough times through most of 2009 with 60% (up 4%) of New Zealanders expecting ‘bad times’ economically for the country as a whole over the next twelve months while only 22% (down 2% - and the lowest since August 2008) expect ‘good times.’

Looking further ahead, 43% (down 3% - and the lowest since August 2008) of New Zealanders expect ‘good times’ for the country during the next five years which compares favourably to just 27% (up 2%) who expect ‘bad times.’

Nearly half of New Zealanders 45% (down 3%) say now is a ‘good time to buy’ major household items while nearly as many, 40% (up 1%), say now is a ‘bad time to buy’ major household items.

Now 37% (down 1%) of New Zealanders say that their family is financially ‘worse off’ than a year ago compared to just 30% (down 1%) who say that they’re family is ‘better off’ financially than a year ago.

New Zealanders are positive about their family’s financial position when looking forward though with 51% (up 1%) of New Zealanders expecting their family to be ‘better off’ financially in a year’s time compared to 25% (up 3% - and the highest since August 2008) that expect to be ‘worse off’ financially in a year’s time.

Gary Morgan says:

“The New Zealand Roy Morgan Consumer Confidence Rating is down 3.3 points to 100.4. As New Zealanders become increasingly worried about economic conditions in New Zealand, the Reserve Bank of NZ and new Prime Minister John Key must work together to stimulate the economy.

“Last week the RBNZ cut interest rates by 1.5% to 3.5% — a record low, less than eight months after NZ’s interest rates were at a record high 8.25%. Despite this large cut New Zealand’s interest rates are still the highest in the developed world and another large cut is needed.

“Importantly, Prime Minister John Key is reducing taxes and cutting red tape on NZ businesses to ensure New Zealand emerges from recession. Key’s actions now will pay dividends down the road.”

This Roy Morgan Consumer Confidence Rating was conducted from January 19 — February 1, 2009, across New Zealand by telephone with a cross section of 1,134 people aged 14 and over.

For further information:

Gary Morgan:             Office +61 3 9224 5213   Mobile +61 411 129 094

Michele Levine:         Office +61 3 9224 5215   Mobile +61 411 129 093

Margin of Error

The margin of error to be allowed for in any estimate depends mainly on the number of interviews on which it is based.  The following table gives indications of the likely range within which estimates would be 95% likely to fall, expressed as the number of percentage points above or below the actual estimate. The figures are approximate and for general guidance only, and assume a simple random sample. Allowance for design effects (such as stratification and weighting) should be made as appropriate.

* The Roy Morgan Consumer Confidence Rating was measured twice a month from October 2005

^ There was only one January 2007 and 2008 Roy Morgan Consumer Confidence rating

Results for the Roy Morgan Consumer Confidence Rating* for the component questions (2009) are as follows:

* The Roy Morgan Consumer Confidence Rating is 100 plus the simple unweighted average of the difference between the percentage of respondents who give favourable and those who give unfavourable answers to five key questions.

^ There was only one January 2009 Roy Morgan Consumer Confidence rating.

*The Roy Morgan Consumer Confidence Rating is 100.0 plus the simple unweighted average of the difference between the percentage of respondents who give favourable and those who give unfavourable answers to five key questions.

Results for the Roy Morgan Consumer Confidence Rating* for the component questions (2008) are as follows:

* The Roy Morgan Consumer Confidence Rating is 100 plus the simple unweighted average of the difference between the percentage of respondents who give favourable and those who give unfavourable answers to five key questions.

^ There was only one January 2008 Roy Morgan Consumer Confidence rating.

*The Roy Morgan Consumer Confidence Rating is 100.0 plus the simple unweighted average of the difference between the percentage of respondents who give favourable and those who give unfavourable answers to five key questions.

Results for the Roy Morgan Consumer Confidence Rating* for the component questions over the more recent surveys for 2007 are as follows:

* The Roy Morgan Consumer Confidence Rating is 100 plus the simple unweighted average of the difference between the percentage of respondents who give favourable and those who give unfavourable answers to five key questions.

^ There was only one January 2007 Roy Morgan Consumer Confidence rating.

*The Roy Morgan Consumer Confidence Rating is 100.0 plus the simple unweighted average of the difference between the percentage of respondents who give favourable and those who give unfavourable answers to five key questions.

The Morgan Poll is conducted by the ONLY Australian and New Zealand member of the Gallup International Association.

No other public opinion poll taken in Australia or New Zealand has this qualification

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