Big-spending trend 'on borrowed time' – ANZ

It's into the deep freeze for new appliance spending, according to nearly one-third of households. (Image: Depositphotos)

Staff reporters

Fri, 25 Nov 2022

Consumer confidence took another dip in the last ANZ-Roy Morgan consumer confidence index for November, with ANZ’s chief economist Sharon Zollner warning that unexpectedly strong levels of consumer spending are “likely to be on borrowed time”.The index fell to 80.7, its lowest since June. When the index is at 100, it represents neutral sentiment.“Sharp increases in the cost of living and interest rates (not to mention falling house prices) are clearly hurting confidence, but excellent job security and strong wage growth...

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