By Chris Becker
The monthly Westpac Consumer Confidence survey is out this morning and has slumped from 104.3 to 100 level, or -4.1% month on month, the biggest fall in nine months:
Looking at the internals, the biggest falls in confidence where in the five year outlook on the economy:
Here are the details:
Expect more rate cuts ahead, but the reality is its going to take more than interest rate cuts to turn sentiment up – the cautious consumer continues to circumvent copious creation of credit.
Chris Becker is an investment strategist at Macro Investor, Australia’s leading independent investment newsletter covering stocks, trades, property and fixed interest. A free 21-day trial is available at the site. You can follow Chris on Twitter.
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