The ANZ-Roy Morgan consumer confidence survey continues to scream pessimism, with the index stuck well below average levels:
ANZ’s Senior Economist, Felicity Emmett, was sobering in her assessment:
“Confidence was broadly unchanged over the past week, remaining well below average. The strong February labour market report, showing further modest jobs growth and a tick down in the unemployment rate, failed to lift sentiment. With persistent weakness in the housing market, and little good news from offshore, either on the economic or geopolitical front, households seem fairly downbeat. Whether this is a new normal or a temporary lull remains to be seen.”
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COMMSEC noted that household finances are breaking down:
A poor trend.
