Only 10% of people in New Zealand believe the economy has turned a corner, according to the Consumer Comform Index.
UMR Research polled 1000 people and found that 69% believe the economy has stabilised but has not yet begun to improve. Another 19% think the worst is yet to come.
The survey took place before the earthquake in Canterbury on 4 September.
Most of was conducted before the Government's bail out of depositors in South Canterbury Finance, which went into receivership on 31 August.