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Speaker 1: Consumer confidence this is good news is on the up,

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Speaker 1: even with the cost of living front of mine. The

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Speaker 1: latest index shows that consumer confidence went up nine points

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Speaker 1: in September. But even though it's up, more people are

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Speaker 1: still pessimistic than optimistic. Senior economists at Westpac Satish Ranshoter

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Speaker 1: is with us. Now, Hey, Satish, great to talk.

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Speaker 2: Keavia, how are you.

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Speaker 1: I'm very well, thank you. Now, this is rather than

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Speaker 1: a change in circumstances, this is hope that's pushing it up, right.

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Speaker 2: I think that's exactly it. Household there still think a

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Speaker 2: lot of pressure on their finances, but they're optimistic that

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Speaker 2: their financial position is going to improve over the year ahead,

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Speaker 2: and I think there's a good chance of that for

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Speaker 2: a lot of households.

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Speaker 1: Do you expect, because I mean it's been a little

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Speaker 1: bit voluntar volatile lately, do you expect that the track

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Speaker 1: from here is just up.

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Speaker 2: I think we're going to see some of those big

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Speaker 2: pressures that households have been dealing with, especially high interest rates,

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Speaker 2: coming down over the coming months. And I think for

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Speaker 2: a lot of households that does mean their financial position

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Speaker 2: is going to improve as they go into twenty twenty five.

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Speaker 2: But it's going to take a while for them to

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Speaker 2: see it in their back pockets.

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Speaker 1: Yeah, so it is a possibility that this is a

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Speaker 1: phillip and that people then realize actually is going to

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Speaker 1: have no real impact in the short term on their finances,

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Speaker 1: and so they dip again. Is that a possibility.

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Speaker 2: I mean, I think there's a little bit of a

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Speaker 2: chance at households start to feel a little bit cautious

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Speaker 2: as it takes a while to feed through, but increasingly

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Speaker 2: it does look like those borrowing rates are coming down,

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Speaker 2: inflation's coming back. I think they're going to start to

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Speaker 2: feel a bit more optimistic going into twenty twenty five.

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Speaker 2: Some of those headwindes have been pretty tough the last

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Speaker 2: few years, and there's a big relief now coming through.

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Speaker 2: It's just going to take a while to show up.

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Speaker 1: Why is it that women are so much more pessimistic

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Speaker 1: than men.

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Speaker 2: I think in a lot of families there's still one

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Speaker 2: family member who's got a close eye on the finances,

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Speaker 2: and for many New Zealand families, it does tend to

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Speaker 2: be a woman. And I think if you're confronted by

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Speaker 2: those cost pressures, especially at the supermarket or when you're

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Speaker 2: paying the mortgage that's likely to be a big drag

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Speaker 2: on confidence and women of course often responsible for a

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Speaker 2: lot of the big spending decisions made by many healtholds.

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Speaker 1: Yeah, I probably explained today, Satish. Thank you very much.

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Speaker 1: Listen to the ladies, Satish Ranschod, senior economists at WISPAC.

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Speaker 2: For more from hither dou see Allen Drive.

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Speaker 1: Listen live to news talks at B from four pm weekdays,

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