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."

LISTEN ABOVE

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

With a straight down the middle approach, Heather du Plessis-Allan Drive on Newstalk ZB delivers the very latest news and views to New Zealanders as they wrap up their day.

Heather du Plessis-Allan Drive

Satish Ranchhod:  Westpac senior economist on consumer confidence declining

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/4a8dc39f-ed81-47b5-a10f-b2a5005d01e7/transcript