Westpac's monthly survey of consumer sentiment is -0.9% m/m to 83.7
- prior was +3.9% to 84.4
The index is barely above its historical lows at a deeply pessimistic level. In Westpac's commentary on the results they atytrbiute the worries to the usual suspects:
- surge in the cost of living
- rising interest rates
- concerns about the near- term outlook for the economy
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Earlier in the session we had a decline also in the weekly reading of consumer sentiment.
