Consumer Sentiment fell 4.2% to 96.6 in March. this was the lowest since September 2020 and also the first sub-100 reading since then. Under 100 is net pessimistic.
Falls again in April, to 95.8
Many of the negative factors prevalent in March continued into the period this survey was conducted:
- Russia’s war on Ukraine
- flooding in parts of Australia's east
- inflation moving higher, as are interest rates
Supportive factors, though, include the Federal government's election bribe halving in fuel excise tax. This has dropped petrol prices substantially (around 15 - 20% by my observations when filling my gas guzzler).
