This is the Westpac / Melbourne Institute survey of consumer confidence for July.
- its fallen every month this year so far
- and is now at its lowest since August 2020.
- Says WPAC: "Both level and pace of deterioration are comparable to previous major shocks."
This also from WPAC:
- The Index has now fallen 19.7% since December 2021, a precipitous tumble comparable to the two–month plunge during COVID (–20.8%); and the six–monthly declines seen heading into the Global Financial Crisis (–29.7%); the early 1990s recession (–20.5%); the mid–1980s downturn (–23.8%); and early 1980s recession (–18.8%).
Its in line with what we are seeing from the weekly consumer confidence survey. That is, falling.
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Eyes are on euro, watching for the big round number just below. EUR, AUD , CAD, NZD have dribbled just a touch softer in past minutes:
