Another fall for this indicator, not surprising given the news flow in April and a very severe shut down in New Zealand
Key points
- Consumer confidence fell 21 points in April to 84.8, about where it troughed in 2008 when the Global Financial Crisis hit.
- The net proportion of households who think it's a good time to buy a major household item plummeted 67 points to -51% (18% thinking it's a good time outweighed by 69% thinking it's a bad time).
- Even when retailers are able to reopen their shops, they're going to find the going very tough, with job security front of mind for consumers.
NZD and AUD trading lower - both have been on the back foot with various developments prior to the data (AUD data out pretty much the same time - PMI collapsing)