Australian consumer sentiment remains in the doldrums
Via Westpac, their summary points (bolding mine ... hope, and expect, the consumers are wrong on this!):
- Expectations gradually improving but offset by renewed pressure on finances.
- Budget’s cost-of-living support measures relatively well-received.
- Consumers more uneasy about inflation following Q1 upside surprise.
- Just over half expect rate rises to resume over the next 12 months.
- Those in line for stage 3 tax cuts plan to save 80¢ of every dollar.
- Job market confidence slips back to long run average levels.
- Housing sentiment remains stuck between extremely weak ‘time to buy’ assessments and strong price expectations.
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Earlier today ANZ - Roy Morgan published their weekly Consumer Confidence index
- +1.8 to 82 points last week, also deeply pessimistic
