Consumers jittery as covid-19 bites

Tue, 15 Sep 2020

The Westpac McDermott Miller Consumer Confidence Index fell 2.1 points in September, taking it to 95.1, the lowest since 2008.“An increasing number of households are telling us their financial position has taken a knock in recent months. That’s consistent with the rise in joblessness,” said senior economist Satish Ranchhod.The low consumer confidence is weighing on household spending appetites. In fact, the number of households who think it’s a good time to make a major purchase has fallen to lows only seen twice in the...

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