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New Zealand's Roy Morgan Consumer Confidence Rating rose 5.5 points to 120 in September, the highest since January 2008, driven by increasing confidence among people about both the short-term and long term future, the latest survey from Roy Morgan showed Monday. Moreover, the confidence rating was 10.1 points higher than a year earlier.
Fifty six percent of the respondents said they expect to be better off financially in a year's time, the highest proportion since March 2008, even as the proportion expecting to be worse off decreased 5% to 12%, the lowest since January 2007.
Over the next 12 months, 47% of respondents expect 'good times' economically, the highest since April 2007. Twenty eight percent still expect worse times ahead, but this is the lowest proportion since December 2007.
A majority 64% expect 'good times' for New Zealand over the next five years compared to 13% who anticipate 'bad times'.
Moreover, 45% of respondents said it was a good time to buy major household items as opposed to 42% who said it was a 'bad time to buy'.
Looking back over the past one year, 25% of respondents said that their family was 'better off "financially now compared to a year ago compared to 43% who say they are financially 'worse off' now.
The Roy Morgan Consumer Confidence Rating was conducted from August 31 to September 13, 2009, across New Zealand by telephone with a cross section of 1,058 people aged 14 and over.
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