Consumer confidence sunk near GFC low

Tuesday, 15 September 2020

ANZ has released its weekly consumer confidence index, which recorded a 1.4% rise, but remains stuck near GFC lows:

According to ANZ via Twitter, confidence was weaker in Melbourne (down 5%+) and Sydney down (3%+), suggesting Victoria’s lockdown extension depressed sentiment. However, confidence was higher across regional Victoria and is back above neutral in Perth.

A wide chasm also exists in views towards finances and the broader economy in Australia:

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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.