Consumer confidence subdued while labour market remains tight

Consumers continue to grapple with the gloom of rising living costs. (Image: ANZ Bank)

Fri, 26 May 2023

Continued gloomy consumer sentiment dominates the ANZ-Roy Morgan Consumer Confidence Index for May. The latest survey data out on Friday said that consumers remained “under pressure” due to various factors impacting their financial wellbeing.Consumers continue to grapple with rising living costs, including higher mortgage rates which are affecting 38% of households with mortgages. ANZ chief economist Sharon Zollner said economic uncertainty was “taking a toll” as the Reserve Bank continues to try and cool the e...

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