Global uncertainty and domestic cost-of-living pressures are hitting collective consumer confidence hard, according to new data.

The Westpac McDermott Miller Consumer Confidence Index for the March quarter fell eight points to 89.2.

Anything below 100 indicates a pessimistic view.

Westpac senior economist Satish Ranchhod says confidence will likely trend upward as the year continues, but it'll be a gradual recovery. 

"If we look to the rest of this year, we are going to see confidence and economic activity continuing to climb. We've had some big interest rate reductions and we haven't felt the full impact of that yet."

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Global uncertainty and domestic cost-of-living pressures are hitting collective consumer confidence hard, according to new data.
The Westpac McDermott Miller Consumer Confidence Index for the March quarter fell eight points to 89.2.
Anything below 100 indicates a pessimistic view.
Westpac senior economist Satish Ranchhod says confidence will likely trend upward as the year continues, but it'll be a gradual recovery.&nbsp;
"If we look to the rest of this year, we are going to see confidence and economic activity continuing to climb. We've had some big interest rate reductions and we haven't felt the full impact of that yet."
LISTEN ABOVE

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Whether you’re a small business owner or interested in what’s going on in the Big End of Town, this podcast encompasses the sharpest voices and minds in the world of business.

Best of Business is the home of all things business at Newstalk ZB, from morning market updates right through to incisive interviews with New Zealand’s top business leaders and decision makers. Whether you’re a small business owner or interested in what’s going on in the Big End of Town, this podcast encompasses the sharpest voices and minds in the world of business.

Best of Business is the home of all things business at Newstalk ZB, from morning market updates right through to incisive interviews with New Zealand’s top business leaders and decision makers.

Best of Business

Satish Ranchhod:  Westpac senior economist on consumer confidence declining

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/87361a94-5751-4db4-8d43-b2a5005d030d/transcript