Attempts to grow the slowing domestic economy are being met with little success

New figures reveal the global economic slowdown will continue to be a drag on New Zealand's economy over the next year.

The Reserve Bank has already made attempts to stimulate growth, by dropping the OCR to a record low.

But Infometrics Chief Forecaster Gareth Kiernan says that hasn't changed much.

He says it's not the interest rate that's causing people to hold back on investments, it's economic uncertainty.