Yesterday’s “disappointing” consumer sentiment report for April, released by Westpac, was potentially significant for the Australian economy as it searches for growth drivers to offset mining’s decline.
Following the 3.2% fall to 96.2 points, overall consumer sentiment slumped to well below the 100 point threshold separating optimists and pessimists, with the index also well below the long-run average reading of 101.5 points (see next chart).
