Public confidence in the financial sector is at its lowest point since the height of the recession, a survey has found.
The RaboDirect Financial Confidence Index found public confidence stood at 22% last year, but slumped to just 10 percent.
RaboDirect general manager Mike Heath says the decline is mainly due to February's earthquake in Christchurch.
He says 50% of those questioned felt less confident about the financial future specifically because of the earthquake, due to concerns about the unemployment impact, the country's ability to fund the rebuilding, carry out the rebuilding and repay the debt.
The index also shows 44% of people are concentrating on reducing their debt and that New Zealanders allocate 28% of their monthly income to debt repayment.
Mike Heath says it's not yet clear whether this represents the emergence of a financially prudent culture.
