Consumer sentiment low on economic woes

The Westpac-Melbourne Institute Index of Consumer Sentiment has fallen 1.8 per cent in June on the back of financial pressures and economic concerns.

Consumer sentiment has slipped further in June, pulling it into "firmly pessimistic territory".

The Westpac-Melbourne Institute Index of Consumer Sentiment fell to 96.2 points in June, down from 98.0 points in May, marking the weakest reading since the Reserve Bank of Australia's mid-2016 rate cuts.

Westpac senior economist Matthew Hassan said increased pressure on family finances and renewed concerns about the economic outlook were the main factors driving the June fall.