Published on the 16/05/2011 | Written by Newsdesk
The February Christchurch earthquake has had a significant negative impact on investor confidence according to the latest ASB Investor Confidence Survey…
“The Q4 2010 survey showed investor confidence may have turned a corner, and the data up until the February 22 earthquake indicated that confidence was at least stabilising following six months of decline,” says ASB’s Head of Private Banking and Wealth Management, Jonathan Beale.
“However the after effects of the quake have hit the ASB Investor Confidence Index with a net nine point drop down to a net 10 percent.”
Beale says that, as expected, confidence has dropped following early signs of recovery in the previous survey.
“This confidence knock shouldn’t linger in the long term. We expect confidence around the country will climb again, as more certainty around rebuilding starts to emerge,” Mr. Beale says.
The analysis involved in the Investor Confidence Survey is based on 720 online interviews with adults aged 18 years and older throughout New Zealand. Interviewing in Canterbury ceased during the period immediately following the 22 February earthquake and resumed towards the end of the tracking period.
