Australian data - Westpac Consumer Confidence Index (June) +0.2% m/m (prior -7.9%)

The index dropped/collapsed even further in May, to 79.0 from 85.8 in April.

The June result just released is not a lot better. Comes in at 79.2

Westpac attributing the awful result to the RBA rate hike:

• "While the full survey showed little net change in sentiment, responses within the survey week show a big rate rise impact,"
• "Of most concern is confidence around jobs – which has been the single bright spot in otherwise bleak consumer surveys over the last year. This now looks to be fading fast."

On jobs, the Unemployment Expectations index rose by 6.6% in June to a 33-month high of 131.3.

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Forget free COVID vaccines, hand these out instead

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