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The Westpac McDermott Miller Consumer Confidence Index in New Zealand dropped to 89.2 in the first quarter of 2025, down from 97.5 in the prior period, marking the lowest level since Q2 of 2024. The latest reading was weighed down by escalating trade tensions, ongoing cost-of-living pressures, and volatility in the financial markets. Most households were still struggling with financial pressures from the cost-of-living crisis, with increasing bills for food, insurance, and rates. Meanwhile, a sharp increase was recorded in the number of people who think it's a bad time to buy a big-ticket item. Confidence was low across the country, but no region was lower than Wellington. On the other hand, the South Island was higher, boosted by rises in commodity prices and international tourism.