Consumer confidence near historic lows – Westpac

Consumer confidence near historic lows – Westpac
The index is well below average. (Image: Getty)
Staff reporters
A lift in consumer sentiment over the past six months has been almost entirely erased, according to Westpac.Westpac’s McDermott Miller Consumer Confidence Index, released Tuesday, put consumer confidence at 82.2 in the June quarter, down 11 points from 93.2 in March.A level below 100 signals that households pessimistic about the economic landscape outnumber those who are optimistic.Westpac senior economist Satish Ranchhod said that 42% of surveyed households believe their financial position has deteriorated over the past year while only 1...

More Retail

ComCom still concerned at loss of competition from Foodstuffs merger
Retail

ComCom still concerned at loss of competition from Foodstuffs merger

The regulator is seeking submissions on unresolved issues with the proposed merger.

Staff reporters 16 Jul 2024
June card spending data bleak, says economist
Retail

June card spending data bleak, says economist

Retail spending fell a seasonally adjusted 0.6% in a month to $6.4 billion.

Gregor Thompson 12 Jul 2024
Warehouse Group to cut jobs at its head office
Retail

Warehouse Group to cut jobs at its head office

The company had already indicated last month that it was looking to trim staffing.

Gregor Thompson 12 Jul 2024
Me Today China licensee sells $5.3m of stock in two days
Retail

Me Today China licensee sells $5.3m of stock in two days

It's more than triple the revenue the Me Today brand made in the six months to Dec 31.

Gregor Thompson 11 Jul 2024