Aussie consumer confidences plunges to August 2020 low


The mood among Australian consumers continues to worsen, with the ANZ-Roy Morgan consumer confidence index plunging to its lowest level since mid August 2020 when Australia was in the early stages of the pandemic:

Australian consumer confidence index

Four of the five confidence subindices dropped.

‘Current financial conditions’ fell 4.4%, while ‘future financial conditions’ dropped 0.4%. ‘Current economic conditions’ increased 1.5%, while future economic conditions decreased slightly by 0.2%. ‘Time to buy a major household item’ also fell 2.7%, dropping 14.7% over the past three weeks.

The full text of this article is available to MacroBusiness subscribers

$1 for your first month, then:
Cancel at any time through our billing provider, Stripe
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.