Consumer confidence dives on floods, WA COVID, and war

Monday 28 February 2022

The ANZ-Roy Morgan consumer confidence index has been released for weekend just gone, with confidence falling 2.6% over the week on the back of Queensland’s floods, the spike in COVID cases across WA, and the Russia-Ukraine war:

Confidence is now tracking way below the monthly average:

According to David Plank, ANZ’s head of Australian economics:

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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.