Consumer confidence plunges GFC-style

Tuesday, 10 March 2020

Via ANZ:

Consumer confidence fell 4.2% last week. This was the third consecutive fall, for a cumulative decline of more than 8%, taking the index to a low last seen in May 2014. ‘Current economic conditions’ fell 8%, adding to the massive 16.6% decline in the previous reading. ‘Future economic conditions’ bucked the trend with a rise of 1.7%.

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.