Saturday, May 31, 2008

Kiwis' plunge in confidence the worst

What do New Zealand, Latvia and the United States have in common?

According to Nielsen, which surveyed 500 New Zealanders just before last week's Budget announcement of tax cuts, the three countries have suffered the biggest falls in consumer confidence.

In New Zealand, confidence has fallen 18 points (from 115 points to 97 points) in the past six months - more precipitously than in any of the other 50 countries surveyed. (When the survey started three years ago, the average for the countries surveyed was 100 points.)

In the latest survey in New Zealand, about half of those questioned thought the country was in recession.

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