Consumer sentiment hit again

Wednesday, 15 July 2015

From Westpac:

This is the lowest print of the Index since December last year. The Index is now firmly in the range where pessimists outnumber optimists. In fact the Index has printed below 100 in 15 of the last 17 months.

Having made that overall assessment it is not surprising that we saw a solid fall in the Index in July. We had a taste for households’ sensitivity to disturbing news around European instability in December 2011 when the Index tumbled by 8.4% from 103.4 to 94.7. This time the concerns around Greece have been complemented by sensational coverage of the collapse in the Chinese share market.

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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.