The epic crash in consumer confidence


It’s turning into an historic plunge for the put-upon consumer. From the weekly ANZ/Roy Morgan measure, down another 3.4 points to 100.4 today:

cc ScreenHunter_2495 May. 20 11.26

The third lowest print in thirty years! Some of this is bound to reverse but we’re not taking to our new economy too well…

About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.