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The run of weak consumer data continue with the latest ANZ-Roy Morgan consumer confidence survey stuck firmly below average levels and tracking near multi-year lows, despite posting a modest rebound this week:
As shown above, the consumer confidence index was 5.8 points lower than the historical average.
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The slump in confidence has been driving by pessimism about Australia’s economy:
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About the author
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness.
Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.
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